Naked photos of the British royal at a private party in Las Vegas were recently leaked on the internet, sparking controversy.
Executives at the adult magazine thinks that Prince Harry would be perfect as a nude centerfold, with publisher Vincent Stevens telling E Online!: "He's a wild party guy. He's appealing to a lot of people because, although he's from the royal family, there's sort of this untamed nature to him.
"I think that's something that's really attractive to our readers and to the general public. He can't be contained by the royal family. He's just a free spirit."
Stevens revealed that the magazine would be willing to offer the prince a six-figure fee "right off the bat", although he admitted there was "no way in the world that he would ever consider this [offer]".
Prince Harry recently returned to the UK in the wake of the scandal, where brother Prince William is allegedly "not impressed" by his behaviour.
The Sun has become the first British newspaper to publish the nude images of the 27-year-old royal, two days after St James' Palace said that it would deem any publication of the pictures by the British media to be a breach of Prince Harry's right to privacy.