The 41-year-old is dad to son Junior, nine, and daughter Princess, seven, from his marriage to Katie Price, 36. He and fiancée Emily MacDonagh, 25, welcomed their first child together, daughter Amelia, 11 months ago.
Speaking to Now, Pete admitted: "I've told Bista [Princess] and Junior that we'd like to have another baby soon."
He's even thinking about spending less time working to expand his family, adding: "I love my job but my main job is supplying for the family.
"I'll say to Emily, 'Don't you want another baby by 2016?' And she's like, 'We have to be married by 2016 then!'"
Emily, who is currently at university completing her medial degree, previously insisted she would not be having any more children until she and Pete are married.
She said: "I definitely don't want any more babies until we're married because we should've been married the first time around."
Pete recently confessed that, while it was Katie's turn to have Junior and Princess at Christmas, he's got a lot planned for the New Year.
He said: "I had them last year and it'll be my turn next Christmas, but I've still got loads of things planned for New Year. I can't tell you what though – it's a surprise!"