Greta Gerwig is open to the idea of a follow-up after the success of her blockbuster - which starred Margot Robbie as the iconic Mattel doll - but it's not a given.
Speaking at the West Hollywood Edition where she was honoured as one of Time magazine's Women of the Year, she said: "If I find the undertow, then we get it. If I don't find an undertow, there's no more."
She admitted: "It's something that I loved making so much.
"And I loved the world that we built so much and all of the actors and the idea of getting to be with that group of people again is very exciting."
When it comes to making that decision, she wants to find the right connection to any particularly project she attaches herself to.
She explained: "My North Star is 'What do I deeply love? What do I really care about? Like, 'What's the story underneath this story?'
"And I think with 'Barbie,' the story underneath this story was I loved Barbie. I remember going to Toys R Us and looking at Barbies and I loved their hair. And I loved everything about them and my mom was not sure about it.
"And I find that's the story, that's the generational story... I'm always trying to find those undertows."
And with those choices, Gerwig is determined not to limit herself by set definitions for what makes a film right for her.
She added: "The great thrill that I get is kind of figuring out how to build my wings on the way down.
"Just kind of leaping from the tallest thing I can find... I hope to make all different kinds of movies in my career, big and small.
"But I think they always have to have that element of adventure because it's the way I get my kicks."