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According to Chud, the producers of the horror sequel are in negotiations with the actor to join the cast of the fourth instalment.
His character Randy was apparently killed off in 1997's Scream 2. It's unclear if Kennedy would reprise the role of Randy or play a different part in the upcoming sequel.
In a recent interview with Digital Spy, Kennedy talked about possibly returning to the franchise.
"I mean in the first one, I died, then didn't die, then I died in the second one and came back via videotape for the third one! You never know... They could reincarnate me! I'd like to," he said.
Stars Neve Campbell, David Arquette and Courteney Cox Arquette and director Wes Craven are expected to return.
Scream 4 will hit cinemas on April 12, 2011.
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