The Mirror claims the model is set to appear in the next series of the reality show - which starts in January - with a pay packet which would make her one of the top-earning housemates in the show’s 12-year history.
A source told the paper: "It might surprise people that a star as big as Katie would consider 'Celeb BB'.
"But it seems she’s keen and it would be a great coup for Channel 5. It looks like it could happen this time."
Katie gave birth to son Jett in August, meaning she could have to spend up to three week away from her newborn if she enters the house.
She previously appeared on 'I'm A Celebrity… Get Me Out Of Here!' in 2004, before completing a second stint in 2009.
She was linked to 'Celebrity Big Brother' earlier this year when pal Rylan Clark appeared on the show.
While she denied rumours she would be entering the house, she tweeted that she 'wouldn’t say no' to the show as she 'has nothing to hide'.
Katie's friend Danielle O'Hara also told Digital Spy back in August that she thought her pal may do the show one day.
"I think she possibly would [do the show], but I don't know how long she'd last," she said.
"I don't think she would be evicted, but it's quite stressful in there. I don't think she needs to be in there."