The actor was last seen in romantic comedy Ladies vs Ricky Bahl.
A source told The Times of India: "Ranveer's extremely kicked about this idea [a superhero film]. He even has a rough script ready which he's been asking people to read."
Singh has previously denied media claims that he is the "next big thing" in Bollywood, but has said that the "sky is the limit".
He will next be seen starring opposite Sonakshi Sinha in the Kolkata-set Lootera.
Singh has only appeared in two films since making his Bollywood debut in 2010's Band Baaja Baaraat.
Watch the trailer for Ladies vs Ricky Bahl below: