The Hollywood Reporter has claimed that Mortensen is currently "a person of interest" for the company to take on the role of General Zod.
While Zod has yet to be confirmed as the film's main villain, earlier this month it was revealed that director Zack Snyder was currently auditioning actresses for the part of Ursa, traditionally Zod's right-hand woman.
Mortensen's involvement with Snyder's new Superman depends on whether or not he is cast as the lead in Universal's fantasy epic Snow White And The Huntsman.
Terrance Stamp originally played the part of General Zod in the 1980 film Superman II, while both Michael Rosenbaum and Callum Blue have portrayed the character in the series Smallville.
The tentatively-titled Superman: The Man Of Steel is expected to be released in December 2012.