The model is said to be mulling over whether to join the Channel 5 series in January or next summer, according to The Sun.
Price's deal with Sky TV has come to an end, meaning she is now free to star in shows on other channels.
A source said: "Signing up Katie would be a massive coup for CBB and bosses are really keen to get her to sign on the dotted line.
"They have given her the option of going in the new series or the one in the summer."
Katie Price's friend Rylan Clark has also been linked with a spot on the show, while her ex-husband Alex Reid won the show in 2010.
"Producers have also approached Rylan and the pair of them in the house together would be hilarious," the insider added.
"But there would be pressure on Katie to win as she wouldn't want to play second fiddle to Alex who won in 2010."
The new eye logo for the new series of Celebrity Big Brother was revealed yesterday (November 28).
Lord John Prescott recently dismissed reports linking him with the latest series of Celebrity Big Brother.