The Herald Sun reports that the former Westlife star has been approached by producers as part of a planned revamp for the show.
McFadden is well known in Australia thanks to his relationship with singer Delta Goodrem and he has previously appeared as a guest judge on Australian Idol.
Controversial radio host Kyle Sandilands, who was axed from Australian Idol last year, is also reportedly in talks to join the new-look show.
Previous seasons of Australia's Got Talent have been judged by Dannii Minogue, Red Symons and Tom Burlinson. However, only Minogue is expected to remain on the panel this year as Symons is said to be in talks to defect to Nine's Hey Hey It's Saturday, while Burlinson has been tipped for the axe.
Auditions for Australia's Got Talent will begin on February 13.