The 'Glamorous' singer had been rumoured as a possible judge prior to the first season of The X Factor in 2011, but publicly declined the role last April.
A source close to Fergie has now told Life & Style that the popstar reached out to X Factor producers when the search for new judges began.
"There have been some conversations. It's in the early stages, but Fergie's the one who approached the producers about joining the panel," the insider told the magazine.
Fergie has not yet offered any comment on the latest report.
Simon Cowell is in the process of filling two judging positions on The X Factor following the departures of Nicole Scherzinger and Paula Abdul at the end of the first season.
Britney Spears has been linked to The X Factor's judging panel, but the negotiations apparently stalled when the 'Toxic' singer demanded a $20m contract and a one-year "out clause".
LeAnn Rimes's husband Eddie Cibrian recently confirmed that the country star has had direct talks with X Factor bosses, while Smashing Pumpkins singer Billy Corgan has also lobbied for a role on the Fox reality competition.
Cowell was recently questioned about the X Factor judging panel in a television interview, but chose not to reveal any details.
"The truth is, we are talking to a number of people. It changes on a daily basis, to be honest with you," he said last week.
The second season of The X Factor USA airs on Fox in September. Auditions are under way now, with further details available at www.thexfactorusa.com.
> Stacy Keibler in the running for X Factor USA role?
> Beyoncé would never judge X Factor USA, says father Mathew Knowles
Watch Fergie's 'Glamorous' music video below: