The 70-year-old, who was last seen in Satyagraha, will reprise his role as a friendly ghost in the movie.
The actor shared the update via microblogging site Twitter.
"Another new film Bhootnath 2 starts tomorrow (Wednesday) and as my makeup Deepak Sawant would say ek aur meter down ho gaya (another meter down)," Big B posted.
Even after so many years in the film industry, Big B is nervous before starting a fresh project.
"Then there is the look test for Bhootnath 2 starting shoot tomorrow. First day of new projects are such a fright! Bhootnath," he added.
Bhootnath 2 will be directed by Nitesh Tiwari and produced by T-Series. It is expected to release in summer 2014.