Reports suggest that Murphy will take the lead role in the film, tentatively titled Richard Pryor: Is It Something I Said?, which is currently being shopped around by writer-director Bill Condon.
A source told Entertainment Weekly that Fox Searchlight is interested in producing the project, although the studio has not commented on the rumours.
Pryor died of a heart attack in 2005, aged 65.
He became famous for his controversial stand-up work in the 1970s and '80s before going on to star in a number of Hollywood films, including Stir Crazy and Silver Streak.
