Lightstorm Entertainment has been testing footage of the film in the format, though no company has been officially given the project as yet.
"It's a time-consuming process, and we want to do it right," producer Jon Landau explained to The Hollywood Reporter.
The re-release is being timed to coincide with the hundredth anniversary of the sinking of RMS Titanic in 1912.
It was also recently announced that George Lucas is planning to release his Star Wars film franchise in 3D, beginning next year with Star Wars Episode I: The Phantom Menace.
The re-release of Titanic, which starred Leonardo DiCaprio and Kate Winslet as its leads, is expected to show in cinemas in April 2012.