The singer is said to have signed a deal with the record label, after his 14-year career at rival company Sony Music with the boyband.
Filan will start work on the new collection following Westlife's current farewell tour, which continues tonight (May 17) at Cardiff's Motorpoint Arena.
Fellow band member Mark Feehily is also expected to make a solo album, while Nicky Byrne is allegedly in talks with US show Dancing with the Stars and Kian Egan will concentrate on television, reports the Daily Star.
It was recently reported that Filan's property company is facing a court battle over large debts and owes around £4 million.
Watch the music video for Westlife's 'When You're Looking Like That' below: