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The singer is rumoured to be making the footage, which she has filmed over the last six months, available on the internet or via MTV.
It reportedly includes the 26-year-old ranting about her family and friends, as well as revealing details of her relationship with ex Justin Timberlake and rivalry with Christina Aguilera.
A source told The Mirror: "Britney's video diaries are the talk of the Tinseltown elite. If she does decide to go public with the footage, it'll be explosive.
"Although some of it is really sad to watch, especially the parts where she is close to breakdown, others are dynamite."
The insider added that both Timberlake and Spears's ex Kevin Federline were "terrified" of the videos being released.
Spears and Federline were followed by cameras for MTV reality show Chaotic in 2005.
> Britney wins back Federline
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