Ledger is in talks to replace Colin Farrell as one of seven actors portraying the folk icon at different stages in his life, The Hollywood Reporter said Wednesday.
Cate Blanchett, Christian Bale, Julianne Moore and Richard Gere have already signed on for the film, written by Oren Moverman and Todd Haynes, who will be directing when production starts in July in Montreal.
Dylan's business manager, Jeff Rosen, is among the producers of the Killer Films project.
Ray Liotta sues skin care company over use of likeness
Aaron Carter is still in love with Hilary Duff