The choreographer - who attracted attention for his no-holds-barred critique during a six-year stint on the ITV celebrity ice-skating show - stepped down from the panel last winter, saying that he had "loved every part" of his time on the show.
However a show insider told The Sun: "Jason is coming back and is excited. He's missed being on the show. But his return will not necessarily mean that Louie [Spence] gets the shove. He and Jason are great pals and have very different approaches to judging.
"The show could do with a boost, because ratings this year were massively down on the previous series. Whether Jason can save the show is anyone's guess, but he will certainly bring back the controversy."
Katarina Witt, who replaced Emma Bunton last year, is thought to be leaving the programme.
Although a talent overhaul was rumoured earlier this year, head judge Robin Cousins is expected to remain on the Dancing on Ice panel.
Photo gallery - 'Dancing on Ice' 2012 final in pictures:
Copyright: Ken McKay/ITV/Rex Features