The Herald Sun reports that the 19-year-old Australian, who broke records as the youngest person ever to sail solo around the world in 2009, is believed to have signed a contract to appear in the latest season of the Seven Network reality TV show.
Former chatshow host Kerri-Anne Kennerley is also rumoured to have signed up for Dancing with the Stars, while singer Shannon Noll is believed to be relocating his whole family from Sydney to Victoria before filming starts in Melbourne.
Other celebrities rumoured to be taking part include controversial Aussie Rules footballer Brendan Fevola, Russell Crowe's singer wife Danielle Spencer, rock musician Brian Mannix and former Neighbours actress Erin McNaught.
Seven bosses are yet to formally announce the cast of the twelfth series of Dancing with the Stars, but the show is scheduled to start filming just after Easter.
Presenter Daniel MacPherson will be fronting Dancing with the Stars again this year, but his co-host Sonia Kruger has now been replaced with former Spice Girl Mel B after Kruger accepted a new job as anchorwoman of the Nine Network's new breakfast show Mornings.
> Kerri-Anne Kennerley: 'Nine Network will hit the rocks and sink'
> Sonia Kruger 'backs Kerri-Anne Kennerley in Dancing with the Stars'