The model is alleged to have had an affair with Simon Cowell for six months while he was with Terri Seymour in 2006.
Producers are said to be offering Lennard a deal to join the show after the affair revelations were recently detailed in Tom Bower's tell-all biography of Cowell.
"The Cowell biography has given Jasmine another spell in the spotlight," a source told The Sun.
"She's quite a feisty girl so will be great in the Big Brother house."
Lennard first appeared on TV screens on Rachel Hunter's Make Me A Supermodel, before reports of the affair broke out.
She also reportedly has a tattoo of Cowell's initials on her arm.
In 2010, Cowell denied reports that Lennard's newborn child was in fact his, after she refused to name the father at the time.
Dog the Bounty Hunter, journalist Samantha Brick and So Solid Crew member MC Harvey are among the stars to be linked with the next Channel 5 reality series.