According to the Boston Herald, the pair are being considered for the comedy film alongside Johnny Knoxville (Moe) and $#*! My Dad Says star Will Sasso (Curly).
The Farrelly brothers are also said to be looking at their Kingpin star Woody Harrelson and Hank Azaria to fill one of the three key roles.
Discussing the brothers' approach to casting the long-awaited project, Bobby Farrelly said: "We haven't cast it yet, we haven't picked anyone. It's a little tricky, right? Because they all have to be about the same age and even around the same height.
"We're waiting for that first person that we're going to say, 'This is going to be our Moe, Larry or Curly' and we'll build around that. But it's going to happen soon. It will be within three weeks."
The Three Stooges is due to start filming in April.