The Sun claims the former Girls Aloud singer - who has been on a break from showbiz since their reunion tour ended in March - has signed with Modest! Management, who also look after a whole host of other 'X Factor' acts including, Olly Murs, JLS and Little Mix.
Cheryl Cole and Will.i.am
It is understood that Modest! are already dealing with her record company Polydor, and have taken over control of her L'Oreal endorsement deal and a return to 'The X Factor' is also said to be on the cards.
A source said: "Cheryl has had enough time to get over all the big dramas in her life over the past few years. The malaria episode, the humiliating experience on 'X Factor USA' and her marriage problems left her lost for a while.
"But she has really got the fire back in her belly and wants to throw herself into her career. The time is right."
Cheryl's fourth studio album is pencilled in for next year, while a return to 'X Factor' could be possible, given that Louis Walsh, Sharon Osbourne and Gary Barlow have said they are all leaving after the current series.
Could Cheryl return to 'The X Factor'?
Meanwhile, it has been claimed that Cheryl is writing material for her new album with ex-Girls Aloud bandmate Nicola Roberts.
An insider told The Mirror: "This seemed like the perfect opportunity to keep some of the Girls Aloud spirit alive. They’ll get to hang out together and make music – their two favourite things to do."
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. Dermot O'Leary also replaces Kate Thornton as the show's host.
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 golden 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.
REUNITED: Simon and Cheryl return alongside Louis Walsh and new judge Mel B.
Bye bye Louis: Nick Grimshaw and Rita Ora replace Louis and Mel, as they join Simon and Cheryl on the panel. Meanwhile, Caroline Flack and Olly Murs step into Dermot O'Leary's shoes as host.