The 41-year-old starred in last year's (18) movie as journalist Eddie Brock, who transforms into the monstrous creature based on the Marvel Comics character of the same name, after his body merges with an alien symbiotic life form.
"I can say that Tom Hardy will be back, magnificently playing that character as no one else can. When you think of Venom, you'll never be able to think of anyone but Tom Hardy sitting in that bathtub of lobsters. And once you saw Tom Hardy do this character, that's all you needed to know," she explained.
"Everybody would love to see that," Pascal said. "You never know someday... it might happen. I can say that we've had a fantastic partnership and you never know what's going to happen. We have a lot of stories to tell about Spider-Man, in every facet. We have big plans for Tom Holland to be a part of everything."
The first "Venom" movie received mostly negative reviews from critics, but was one of the highest grossing films of 2018, bringing in more than $850 million (£667 million) at the worldwide box office.
A sequel was teased in the end credits scene of the film, when Hardy's character Eddie Brock interviewed convicted serial killer Cletus Kasady, played by Woody Harrelson, in prison.
"When I get out of here – and I will – there's gonna be carnage," Kasady promised.
Fans have speculated that his line points to Harrelson playing Carnage – one of Venom's biggest villains in the comic book series – in the upcoming sequel.