The New York Post said producers of the Broadway musical are considering asking Lopez, who earlier gained fame on the TV series "Saved by the Bell" -- to join their production as accountant Leo Bloom.
If the Mel Brooks musical does convince the "Stars" runner-up to come aboard, he would be the second TV star to join "The Producers" this month -- joining as former "Who's the Boss" and "Taxi" star Tony Danza.
The potential hiring would also represent a Broadway trend toward using "Dancing with the Stars" as a veritable proving ground for potential stars.
"We watch the show like it was an audition," a Broadway source told the Post. "You can tell right away who'd be good on stage. And you can certainly tell if they can dance."