The BAFTA-winning ITV2 series has so far comprised of two 12-episode runs, with a third of the same length due to air later this year.
However, The Sun claims that bosses now believe that the programme - which follows the lives of Essex residents including Amy Childs, Mark Wright and Lauren Goodger - could follow TV dramas such as Holby City and Casualty by being shown for up to 48 weeks of the year.
New cast members will apparently be brought in to ensure that there is enough going on to sustain the increased run, which could begin in the New Year.
"Everyone is still following their bust-ups and romances anyway so it feels like the cameras should still be there to capture everything," a source claimed.
"The gang would have to be up for it and a deal has to be struck with the producers. But the expectation is that the stars would all want to do it."
The Only Way Is Essex will be shown across Europe after creators Lime Pictures sold the show to a number of foreign broadcasters.
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Watch a Cassetteboy 'remix' of The Only Way is Essex - commissioned by ITV.com - below: