Show bosses are said to have approached the former Oasis singer with a 'name your price' offer to join the panel for the tenth series later this year.
Noel Gallagher has been offered a judging spot
It is the second time producers have offered the star the gig, as he revealed he was approached back in 2011, after Simon left to launch 'X Factor USA'.
However, The Sun suggests that Gary could be sitting alongside Noel on the panel as bosses are still 'undecided' on Louis Walsh.
Louis Walsh and Gary Barlow's futures are still up in the air
It is expected that former judge Sharon Osbourne is to make a comeback, along with last year's winning mentor Nicole Scherzinger, who recently demanded her fee was doubled if she was to return for another series.
The original line-up: Sharon Osbourne, Simon Cowell and Louis Walsh
All change: Dannii Minogue joins Simon Cowell and Sharon Osbourne, with Brian Freidman replacing Louis Walsh.
The return of the Walsh: Louis makes a comeback after Brian Freidman is axed from the panel after only a few days of auditions.
The Cheryl era: Cheryl Cole replaces Sharon Osbourne, joining Simon, Dannii and Louis.
A mass exodus: Gary Barlow, Tulisa and Kelly Rowland join the only original remaining judge, Louis Walsh.
Schermazing: Nicole Sherzinger replaces Kelly Rowland, joining Gary, Tulisa and Louis.
She's BACK! Sharon Osbourne rejoins the panel after five years, replacing Tulisa and joining Louis, Gary and Nicole.