Gossip Girl's Chace Crawford, John Krasinski of The Office, Scott Porter of Friday Night Lights, Cloverfield's Mike Vogel and Michael Cassidy of Smallville are all in line for the part.
All five actors have agreed to test deals for the role. A source indicated that whoever lands the part must sign on for nine other options, including potential sequels to the film and 2012's Avengers.
Tron Legacy actor Garrett Hedlund was also sought for the project, but the studio was unable to reach a deal with him.
Captain America: The First Avenger is scheduled to arrive in theatres on July 22, 2011.