The Broadway version of the DreamWorks animation opened in 2008, but only lasted for a short run. However, producers are reportedly considering bringing the musical to the UK.
The production could potentially use the London Palace Theatre or the Theatre Royal, Drury Lane as a venue.
According to the Daily Mail, the show has been re-written with new songs and DreamWorks boss Jeffrey Katzenberg believes it will be a success in London.
Ball, whose West End roles include Les Misérables and Hairspray, is apparently in the running to play the title role in the project. The musical theatre star, 47, is currently scheduled to star alongside Imelda Staunton in a version of Sweeney Todd in 2011.