A sequel, Peter Rabbit 2: The Runaway, was released in 2021 without the involvement of Sony Pictures Animation but did not gross as much as the first film.

In Britain's Lake District, Peter Rabbit, his cousin, Benjamin Bunny and his triplet sisters, Flopsy, Mopsy and Cottontail, spend most of their days picking on old Mr. McGregor, who had killed and eaten their father, and stealing vegetables from his garden.

However, it was a trap set by Mr. McGregor; he catches him, but suddenly dies of a heart attack, having lived an unhealthy lifestyle (including smoking, using asbestos, drinking water from a dirty bird bath and a poor diet) for many years.

When Thomas learns that his great-uncle's manor is valuable and that he has inherited it, he decides to appraise and prepare it for resale in order to start his own toy store near Harrods to get his revenge.

Peter and his sisters rescue Benjamin and Thomas instead accidentally drops a prized set of binoculars Bea had given him earlier into the water.

After the rabbits trigger Thomas' allergy to blackberries, he attacks them in the garden with some of the dynamite, on the warpath against them and tells Peter that his antics caused him to become aggressive.

Peter feels remorseful for the damage his recklessness has caused and upon learning that Bea intends to leave the neighbourhood, he and Benjamin head to London to bring Thomas back.

They rush back to the country, where Peter shows Bea the detonator and presses it for her to see, thus confirming Thomas' previous claims that a rabbit caused the explosion.

[10] Daisy Ridley and Elizabeth Debicki joined the cast in September 2016, and principal photography was scheduled to commence in Sydney, Australia, in January 2017.

[22] The soundtrack features a version of the song "Steal My Sunshine" by the band Len with the lyrics rewritten to be about Peter Rabbit.

The first trailer received negative feedback from critics and fans of the character, many of whom labelled the film as being too modern and insulting to Beatrix Potter's works.

The website's critical consensus reads, "Peter Rabbit updates Beatrix Potter's classic characters with colourfully agreeable results that should entertain younger viewers while admittedly risking the wrath of purists.

[39] Olly Richards at Empire gave the film 3 out of 5 stars, praising the "splendid" animation and Gleeson's performance, though he felt that Corden had been miscast.

[40] Chris Nashawaty at Entertainment Weekly gave the film a 'B' grade, saying it was "clever, and funny, and moves as fast as a tyke on a sugar bender", noting its differences with the source material.

[41] Robbie Collin at The Daily Telegraph gave it 2 out of 5 stars, praising the "appealing double act" of Gleeson and Byrne but comparing the film unfavourably to Paddington and criticising the characterisation of Peter Rabbit.

[45][46] In the first week after the film's release, groups in multiple countries criticised it for "allergy bullying" and called for an apology from Sony.

[50] In his review, Robbie Collin said, "...it is a horrible scene – not because allergies are comedically untouchable, but because it makes Peter an irredeemably nasty piece of work.