Earlier this week, Cowell announced that he will be leaving the show to focus on an American version of The X Factor.
The New York Post has now claimed that Rodney Jerkins could take Cowell's place.
The producer, who has worked with artists including Beyoncé, Lady GaGa, Jennifer Lopez and Britney Spears, reportedly impressed producers when he appeared as a judge on the MTV show Starmakers.
Meanwhile, a source described Jenkins as "very Simon-esque".
However, representatives for Jenkins and American Idol did not comment on the speculation.