The Only Way Is Essex cast member is in negotiations to enter the jungle with her co-star and former boyfriend, who has previously been linked to the show.
Producers are prepared to offer the pair six-figure deals, with their TOWIE contracts being the only obstacle, the Sunday Mirror reports.
Stars of the ITV2 constructed reality series have to give 15% of all their earnings to production company Lime Pictures.
Essex split from Faiers in June following a row while filming the TOWIE Marbella special.
However, the 23-year-old admitted that he is still in love with his ex-girlfriend in the Las Vegas episodes earlier this month.
Former TOWIE star Mark Wright finished second on I'm a Celebrity... Get Me Out of Here! in 2011.