The pair are said to have hung their picture inside their £35 million ($55 million) chateau in Brignolle, France, reports The Sun.
"Angelina's fascinated by her and says she has a wonderful aura," an insider said. "She loves her look and common touch and says she and William radiate kindness and sincerity."
Jolie is also allegedly interested in producing a movie based on Kate Middleton's life.
"They're even talking about a biopic on Kate," the source added.
Kate Middleton made her first public address as the Duchess of Cambridge during a charity visit in Ipswich last week.
Angelina Jolie recently laughed off the media frenzy that arose over her protruding leg at this year's Academy Awards.
Photo gallery - Kate Middleton makes her first public address in Ipswich: