The 55-year-old actor, who starred alongside Tom Cruise in the 1986 original, has taken to his Facebook account to revealed he's been offered and has accepted the chance to appear in a sequel.
He posted: ''I just got offered ?#?topgun2? - not often you get to say 'yes' without reading the script... (sic)''
Val also revealed Gene Hackman will star in the movie, with Francis Coppola assuming the role of the director.
He wrote: ''It's starring Gene Hackman...
'''Yes' 'The director is Francis Coppola...' 'Yes!' Jerry Bruckheimer and Tom Cruise!!!''
Although Val admitted he misses the director of the original action drama film, Tony Scott - who committed suicide in 2012 - he's eagerly looking forward to the sequel.
He said: ''We will all miss Tony Scott one of the kindest gentlemen I've ever met in the film biz, but let's fire up some fighter jets again!!! (sic)''
David Ellison, chief executive officer of film company Skydance Productions, confirmed earlier this year that 'Top Gun 2' was in development and would be set in the present day.
He said: ''It is very much set in today where we have drone technology and fifth-generation fighters. It's exploring the end of an era of dogfighting and fighter pilots.''