The 41-year-old is due to leave EastEnders in November to pursue Hollywood and theatre roles.
The eleventh hour contract would tie the actor to the soap for a further three years, as well as giving him the opportunity to star in a series of BBC dramas.
"He sees Hollywood as his ultimate goal but his head has been turned by this mega-money offer," a source told The People. "He needs the cash and it is a no risk option for him."
The BBC denied that negotiations were taking place. "Shane will be going at the end of the year to pursue other projects," a spokeswoman told News Online. "We will be leaving the door open for him to return."
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