The director has been rumoured to be working on an ensemble film which centres around the publisher's mystical characters.
According to Latino Review, the film will star Deadman, The Spectre, Swamp Thing, John Constantine, The Phantom Stranger, Zatanna, Zatara, Sargon the Sorcerer and Etrigan the Demon.
Warner Bros lawyers have reportedly been working to free the rights to all the characters so that the movie may go ahead.
DC/Warner are already planning a Justice League movie to rival Joss Whedon's record-breaking Avengers and its forthcoming sequel.
Del Toro is currently attached to a Hulk television show for Marvel Entertainment. He revealed that he had considered getting involved with both Thor and The Wolverine for Marvel Studios.
Many of the characters billed for Heaven Sent have been central to DC's 2011 New 52 relaunch, many of them appearing in the critically acclaimed 'Dark' titles.
Del Toro's next film Pacific Rim will debut on July 12, 2013.