According to E! Online, the Hannah Montana star is among the choices being considered for the role of Ariel Moore, a small town girl who falls for rebellious dancer Ren McCormack (Chace Crawford).
"They've expressed interest in Miley for the part," said an unnamed friend, while a production insider added that the 16-year-old is "definitely in the mix".
Other names to have reportedly auditioned for the role include Heroes star Hayden Panettiere, Hairspray actress Amanda Bynes and Dancing With The Stars professional Julianne Hough.
Cyrus is scheduled to begin production on Disney's The Last Song next month.