The former world champion will be joined by Birds of a Feather actress Linda Robson for the ITV1 reality show, according to The Sun.
"Eric and Linda are great fun and they can't wait to get stuck into the jungle shenanigans," a source explained.
"They know they'll have to eat all sorts of horrible things, but they're up for the challenge."
Bristow - a former Bullseye regular - will reportedly receive £60,000 for appearing on I'm a Celebrity.
Other potential contestants for this year's series include former Coronation Street actress Helen Flanagan, her former Corrie co-star Ryan Thomas and musician Grace Jones.
Producers are also reportedly keen to convince author and former Conservative MP Louise Mensch to take part, while hosts Ant and Dec have said they want to see Chris Moyles on the show.
I'm a Celebrity... Get Me Out of Here! is due to return to ITV1 in November.
Watch a clip of Eric Bristow on Bullseye below: