The One Day actress would star as Fantine, on Hugh Jackman's recommendation, according to Broadway World.
She performed Les Miserables song 'On My Own' for Jackman at the Academy Awards ceremony in February.
Hathaway is in contention with actresses Rebecca Hall and Amy Adams for the part of the working class woman who is rescued by former prisoner-in-disguise Valjean.
Jackman has been cast in the central part of Valjean, who becomes a major dedicated privately to helping down-and-outs in post-revolutionary Paris after leaving prison.
The King's Speech's Tom Hooper is directing the big-screen version of the long-running stage musical from a script by Bill Nicholson.
Other stars who have been attached to key roles include Geoffrey Rush (Thenardier) and Helena Bonaham Carter (Madame Thenardier) as abusive foster parents to Fantine's young daughter.
Miranda Cosgrove, Lucy Hale, Emma Watson and Hayden Panettiere are reportedly all interested in the roles of Cosette and Eponine.
Russell Crowe may be up for the part of the obsessive police officer Javert.
Hathaway will next be seen in The Dark Knight Rises, playing Catwoman.
Watch Anne Hathaway in this featurette for One Day: