The Django Unchained star is negotiating to play the president opposite Channing Tatum in the action movie, reports Deadline.
Sony Pictures' upcoming movie sees a Secret Service agent battling to rescue the commander-in-chief after the White House is attacked by a paramilitary organisation.
Roland Emmerich is directing from a script by Amazing Spider-Man writer James Vanderbilt.
Gerard Butler is in line to star in a similar project, White House Taken, under director Antoine Fuqua.
Foxx will next be seen in Quentin Tarantino's Django Unchained, which is due for release on December 25 in the US and January 18, 2013 in the UK.
Watch Jamie Foxx in the first trailer for Django Unchained below: