The Oscar-nominated actress portrays Charlie Watson, a teenage girl who finds and befriends a Transformer named Bumblebee, in the new flick - the sixth instalment of the live-action "Transformers" franchise.
Bumblebee has won praise for the 1980s setting and Steinfeld's performance, and she has now indicated that she would be open to exploring her character further in a sequel.
"I think she's still capable of so much and we see that throughout the course of this film and we see how much growth takes place in such a short period of time that by the end of the film, you know, even though she's overcome so much," the 22-year-old said in an interview with Cinemablend.com. "I still feel she's got so much to say, a lot more to learn and a long way to go. So I would be interested in exploring that."
Bumblebee was released in late December (2018) and has so far been a success, garnering $97 million (£76 million) in the U.S. and $192 million (£150 million) at the global box office.
Previously, director Travis Knight stated that he would be interested in making more films if "the world wants more," while Steinfeld's co-star John Cena, who portrays former U.S. Army Ranger Jack Burns, has also indicated that he would want to appear in another flick.
"I really enjoyed working with Travis, but I love the movie and it looks like it's going to make a lot of money too, so hopefully we'll be able to do it again," he said.
But if a new "Bumblebee" film did get the go-ahead it may be some time in the future, as Steinfeld has a number of projects on the go, including TV series "Dickinson", which looks into the life and work of American writer Emily Dickinson.