During today's session at the high court in London, Lord Justice Leveson suggested that Morgan, the former editor of the News of the World and Daily Mirror, would be asked to appear at the inquiry as he had questions to answer.
His appearance has not yet been officially confirmed by the inquiry and there has been no word from Morgan, who is currently a presenter on US network CNN, yet on Twitter about the matter.
But Gill Penlington, the executive editor of CNN's Connect the World, tweeted this afternoon: "Piers Morgan confirms to CNN that he will be giving evidence to Levenson Inquiry at a later date."
Speaking at the inquiry today, media lawyer Mark Thompson said that the process of illegal interception of voicemails went beyond the News of the World, the newspaper which was shut down in July at the height of the hacking scandal.
Morgan's knowledge of phone hacking during his newspaper career has been the subject of serious questions over the recent months, despite the allegations against the News of the World coming after he left the paper.
In August, Heather Mills said that she was told by a journalist working for Mirror Group Newspapers that her voicemails from ex-husband Sir Paul McCartney were hacked.
However, Mills said that the journalist who contacted her was not Morgan, who was editor of the Daily Mirror at the time of the alleged hacking.
Morgan has consistently denied that hacking went on while he was editor of News of the World and The Mirror, and insisted that he has "never hacked a phone, told anyone to hack a phone, or published any stories based on the hacking of a phone".
Thompson pointed to an interview conducted by Morgan with Naomi Campbell, in which the supermodel switched the roles and posed a question to Morgan about phone hacking.
Morgan is quoted as responding: "Loads of newspaper journalists were doing it. Clive Goodman, the News of the World reporter, has been made the scapegoat for a very widespread practice."
Former royal editor Goodman was jailed for phone hacking in 2007 alongside private investigator Glenn Mulcaire, and so far the scandal has remained attached solely to the News of the World.
Morgan has also come under fire for statements suggesting that he was aware of phone hacking practices in his memoir The Insider.
However, Conservative MP Louise Mensch apologised in July to Morgan for having "wrongly stated" that he had "been open about personally hacking phones" in the book.
Earlier in the week, Steve Coogan described Piers Morgan as being "a little" intrusive in an interview that he conducted with the comedian for GC magazine in 2006.
Robert Jay, counsel for the inquiry, asked if this was because Morgan was "charming or something else", to which Coogan replied "something else".
Also today, the inquiry has heard from actress Sienna Miller and former Formula One boss Max Mosley, while Harry Potter author JK Rowling is currently giving evidence.
Lord Justice Leveson Inquiry coverage roundup:
> Sienna Miller 'baffled and intimidated' by press intrusion
> Madeleine McCann parents Kate and Gerry 'violated' by press intrusion
> Phone hacking goes beyond News of the World, says lawyer
> Steve Coogan: Newspaper industry is like the mafia
> Phone hacking made Dowler family think Milly was alive
> Hugh Grant suspects Mail On Sunday of phone hacking