The teenage singer, who was axed from the ITV talent show in November for allegedly bragging about his drug use, has apparently pledged to sleep with his female co-stars in the Elstree compound.
> The Wanted: 'We'd give Frankie Cocozza a record deal'
"He's not exactly a Hollywood star but everyone knows who he is and he's bound to cause some mayhem in the house," a source told The Sun. "If nothing else he'll be good value."
Lindsay Lohan and Ryan Giggs' sister-in-law Natasha Giggs are among those tipped to appear on Celebrity Big Brother when the contest returns in early 2012.
Boy George, who was banned from competing in a previous series of Celebrity Big Brother on Channel 4, has reportedly demanded £1m for an appearance.
Sam Faiers is also rumoured to have followed in the footsteps of Amy Childs by quitting The Only Way Is Essex for a place on Celebrity Big Brother.
> Celebrity Big Brother's Paddy Doherty, Sally Bercow swap lives for Channel 5 show
Watch X Factor judge Gary Barlow talking about Frankie Cocozza below: