The first film earned $700 million domestically and $1.3 billion worldwide, and was also recently submitted for Oscar consideration.
Coogler is likely to begin writing the script of the sequel next year, and production will begin late 2019 or early 2020, The Hollywood Reporter said.
In India, the film clashed with Sidharth Malhotra and Manoj Bajpayee's Aiyaary and completely outperformed it at the box office.
Coogler's continued involvement in the franchise, which has become one of Marvel's tentpole newcomers as the studio charts a course for the MCU's next phase, has seemed all but inevitable following the critical and commercial success of the first film. Marvel now has three films lined-up in the coming year, which are Captain Marvel, Spider-Man Homecoming 2 and Avengers 4.
Ryan Coogler is saying "Wakanda forever" for a second time. He chose to not take on Creed II, instead having relatively unknown director Steven Caple Jr. take on the task-imagine Coogler passing the torch to another up-and-coming young black filmmaker. That's right. Black Panther did better numbers than Star Wars: The Last Jedi. Pitted against his own family, the king must rally his allies and release the full power of Black Panther to defeat his foes and embrace his future as an Avenger.
Actor Chadwick Boseman, who portrayed T'Challa/Black Panther in Coogler's film, will reprise his role in the follow-up.