According to the Los Angeles Times, Warner Bros is "closing in" on Scott Hicks, best known for his 1996 Academy Award-nominated film Shine.
In recent years, Hicks has directed Clive Owen in single-parent drama The Boys Are Back and Catherine Zeta-Jones and Aaron Eckhart in the restaurant comedy No Reservations.
The Lucky One, which follows a Marine on his search for a mysterious woman, would mark the latest addition to a string of Nicholas Sparks novels adapted to screenplays.
Other Sparks adaptations have included military drama Dear John and The Notebook.
Talks for The Lucky One will be finalised in the coming weeks.