Talks between the two parties have taken place outside of the THQ auction process, according to IGN, with an announcement expected soon.
A new partnership was teased by WWE Games on Twitter, who confirmed that new games would continue to be released.
"We don't have any details to share yet, but there WILL continue to be WWE Games. Stay tuned for more information and some exciting news!" reads a WWE Games tweet.
Many of THQ's assets have been purchased at auction, including Sega buying Company of Heroes studio Relic Games and Koch Media purchasing the Saints Row and Metro series.
Ubisoft, meanwhile, placed the leading bid on South Park: The Stick of Truth and also picked up THQ's Montreal studio.
Last year's WWE 13 features context-sensitive 'OMG' moments and a roster made up of more than 80 wrestlers.
The game's single-player campaign revisited the 'Attitude Era', focusing on wrestlers such as Stone Cold Steve Austin, Mankind, DX and The Rock.
> Read Digital Spy's WWE 13 review
Watch a trailer for WWE 13 below: