The 42-year-old BBC Breakfast host is said to be "thrilled" at the chance to compete on the popular BBC dancing contest, according to The Mirror.
Reid has already had a taste of the dancefloor in 2011, when the newsreader raised money for Children in Need with a special one-off performance alongside Sophie Raworth, Emily Maitlis and Sian Williams.
Vanessa Feltz has already confirmed she will take part in this year's competition.
A total of 15 celebrities made up of eight women and seven men will take part in the 11th series of Strictly.
Teri Hatcher, Coronation Street star Natalie Gumede, Countdown's Rachel Riley, Ben Cohen and Sophie Ellis-Bextor are among the stars rumoured for this year's series.
Strictly Come Dancing returns on Saturday, September 7 on BBC One.
Strictly Come Dancing rumoured lineup: