He is considering the headlining role in Nick and Norah's Infinite Playlist director Peter Sollett's romantic comedy, reports Variety.
Timberlake is in line to star as a charming restaurant critic who stuggles with alcoholism.
When he meets the woman of his dreams, he decides that it is time to overcome his addiction.
The musician-turned-actor can currently be seen in Trouble With the Curve alongside Clint Eastwood and Amy Adams, and will appear next year in the Cohen Brothers' Inside Llewyn Davis.
Brandon Murphy and Phil Murphy wrote the script for The Drop, which appeared on the 2011 Black List.
The pair recently worked on a drama for Virgin Produced about the relationship between Rolling Stones members Mick Jagger and Keith Richards.