The 'Body Electric' singer is said to have landed herself a contract with the fashion brand, reports the New York Post.
A source claimed: "She's shooting an H&M campaign in New York."
Neither H&M nor Del Rey have confirmed the reports.
On Thursday, rapper A$AP Rocky revealed that he will be portraying former US president John F Kennedy opposite Del Rey's Jackie O in her 'National Anthem' music video.
A$AP Rocky previously admitted to having a crush on Del Rey, calling her his "dream girl".
Watch the music video for Lana Del Rey's 'Blue Jeans' below: