The Australian actress, who was nominated for an Academy Award for her role in Animal Kingdom, could play Bradley Cooper's mother in the David O Russell romantic comedy.
The Silver Lining Playbook - adapted from Matthew Quick's novel - is about a former high school teacher who is institutionalised for depression.
Weaver and her management are currently in negotiations over the role, according to The Hollywood Reporter. Filming is scheduled to begin in the next two months.
The movie also stars Jennifer Lawrence as Cooper's eccentric neighbour, as well as Robert De Niro.
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Earlier this year, Weaver played Emily Blunt's mother in Judd Apatow comedy Five Year Engagement and said: "Emily is a great girl, lovely, and a terrific actress. I [am] really looking forward to it."
After her Oscar nomination, Weaver said that her life had become "surreal". "I still can't believe any of this is happening," she said. "It's like I'm looking at someone else's life playing out in front of me. At my age, and after a lifetime of so many ups and downs, I'm constantly pinching myself."
Watch the trailer for Animal Kingdom below (may contain shocking images):