According to the Daily Star, filmmakers believe that the recent stories of Woods's infidelity would be suitable for a TV movie.
They are allegedly hoping that Cuba Gooding Jr will agree to take on the title role.
"It will make a great movie as people love to see someone fall from the top and try to pick up the pieces of their life," a source said. "Tiger's scandal just proves the world's biggest sportsman is human. Now the race is on to make the film while the public is still interested in the story."
Woods has reportedly cost his sponsors $12bn (£7.5bn) since details of his infidelity emerged.