Hoffman -- who won the best actor Oscar for "Capote" -- is in demand, making "Charlie Wilson's War" with Tom Hanks and Julia Roberts and acting off-Broadway in "Jack Goes Boating" -- a production of the LAByrinth Theater Company where he is co-artistic director.
"50 Words" is expected to reach Broadway for the 2007-08 season, Daily Variety said.
The two-character play captures a single contentious night in a modern-day marriage. Weller wrote "50 Words" as the second part of a trilogy.
The first part, "What the Night Is For," played in London in 2002, starring Gillian Anderson.
Hoffman was last seen on Broadway in "A Long Day's Journey into Night" in 2003. He also played in "True West" in 2000.