Variety claims that Goodman is likely to join the Town director's next project about a CIA mission to rescue six diplomats being held hostage in Iran.
The film follows the CIA agents as they attempt to convince Iran that the six diplomats had simply been there shooting a movie.
Goodman has been lined up to portray Hollywood make-up artist John Chambers, who is roped in to help with the ruse.
Earlier this month, it was reported that Little Miss Sunshine star Alan Arkin had already joined the project in a leading role.
Argo has been adapted by screenwriter Chris Terrio from an article by Joshua Bearman in a 2007 issue of Wired magazine.
Goodman will next be seen in Kevin Smith's new project Red State and on the fourth season of Damages.