According to The Hollywood Reporter, the Descendants actress is in negotiations to play the lead role in the movie, based on a novel of the same name by Veronica Roth.
Divergent, which has been compared to The Hunger Games, is set in a dystopian future where people are separated into factions based on human traits.
Limitless director Neil Burger will helm the film, while Summit Entertainment is producing.
Woodley is negotiating to play the lead, a 16-year-old girl who falls in love with a boy from a rival faction, inciting a bitter battle.
The 20-year-old actress, who was nominated earlier this year for a Golden Globe, is also rumoured to be playing Mary Jane in the next instalment of the Amazing Spider-Man franchise.
Watch a clip from a Digital Spy interview with Shailene Woodley below: