It's been confirmed in this year's Mario Day that there will be another movie based on the Mario games. It is, however, currently unknown if it is going to be the sequel or a spin-off.
This, Princess Peach, is THE BEST MOVIE EVER!!! I LOVED YOUR ENTIRR ROLE PLAYED BY ANYA TAYLOR-JOY!! WHEN THE SUPER MARIO BROS. MOVIE REACHED OVER $1 BILLION IN WORLDWIDE SALES, I CELEBRATED WITH MONSTER ENERGY ZERO SUGAR, COKE AND MONSTER ENERGY CLOTHES, AND I HAVE THE TOY OF YOU, PRINCESS PEACH, FROM THE MOVIE BY JAKKS-PACIFIC!!!