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The pair are set to star opposite each other in new film A Star Is Born.
49-year-old Hollywood hero Tom will reportedly play Beyonce Knowles' troubled mentor in a movie directed by actor-turned-director Clint Eastwood.
According to reports, it's still very early days for the discussions, but Tom is said to be interested as he is keen to work with Clint.
The film, which has already been remade three times, is about a young woman's tumultuous foray into showbusiness.
Hugh Jackman, Will Smith, Leonardo DiCaprio and Christian Bale have also been considered for the part.