The former X Factor judge is high on the priority list of ITV bosses, the Daily Star Sunday reports.
"Not only is she a huge name, but she is also hugely popular and could prove a huge pull in her big comeback after leaving The X Factor," an insider claimed.
Minogue could potentially be joining her boyfriend Kris Smith, who was allegedly offered £250,000 to sign up for the ITV1 jungle reality show.
Former child star Aaron Carter, Imogen Thomas and Dollar singer Thereza Bazar are also rumoured to be in this year's lineup.
I'm A Celebrity... Get Me Out of Here! is expected to return to ITV1 in November.