The NFL great is a favourite of Live with Kelly producers following his nine guest hosting stints in the last six months, a source told Hollywood Life.
The insider added: "All bets are on Michael Strahan. He's funny, does well on camera and gets along really fabulously with Kelly [Ripa]. Michael is the top name that is seriously being thrown around right now."
Josh Groban has also apparently lobbied to become a full-time host on Live with Kelly, according to the informant.
Kelly Ripa recently ruled out that her husband Mark Consuelos will become a permanent Live with Kelly presenter, explaining: "He says that he doesn't see how we could stay married and both do that show."
Ripa has co-hosted with guests including Anderson Cooper, Donald Trump, Dana Carvey, Neil Patrick Harris and Nick Lachey since Philbin departed Live with Kelly in November after 29 years.
Watch Michael Strahan interview Sarah Michelle Gellar on Live with Kelly below: