The 62-year-old singer and actress is reported to be in talks to play Catwoman opposite Christian Bale in the third Batman film from British director Christopher Nolan.
The Oscar-winner will join a cast that includes Johnny Depp as The Riddler as she plays the whip-carrying burglar. The character has also been played by Michelle Pfeiffer and Halle Berry.
A studio executive said: "Cher is Nolan's first choice to play Catwoman. He wants to her to portray her like a vamp in her twilight years.
"The new Catwoman will be the absolute opposite of Michelle Pfeiffer and Halle Berry's purring creations."
Filming of the new Batman instalment, provisionally entitled The Caped Crusader, is due to begin in Vancouver early next year.
The Dark Knight, this summer's blockbuster, has become the most successful of the Batman movies. Warner Bros expects the film to make about $530m.
It stars the late Heath Ledger, who was found dead in his Manhattan apartment after taking an accidental drugs overdose. His performance as The Joker is widely expected to garner an Oscar nomination.
Cher's recent acting performances have included Tea with Mussolini in 1999 and Stuck on You, in 2003 in which she played herself.
