A source close to the singer says her record company Sony is encouraging her to collaborate with current pop divas such as Rihanna and Adele, reports Page Six.
Streisand is apparently seeking to capitalise on the recent success of Tony Bennett, whose US number one LP Duets II paired the crooner with Lady GaGa and the late Amy Winehouse.
A spokesperson for Streisand did not comment on the report.
Streisand's most recent album What Matters Most - which was comprised of songs by Alan Bergman and Marilyn Bergman - was released last year.
The 'Guilty' singer recently announced that she will headline her very first concert in her hometown of Brooklyn, NY this summer.
Watch Barbra Streisand and Barry Gibb perform 'Guilty' below: