Swank is playing the early 20th century aviatrix in the movie directed by Mira Nair. Shooting is underway in Toronto.
McGregor is to play Earhart's love interest Gene Vidal, the father of author Gore Vidal, the trade paper said.
McGregor is best known for his roles in "Moulin Rouge," "Black Hawk Down," "Down with Love," "Big Fish," "Miss Potter" and the three "Star Wars" prequels.
Notable deaths of 2014 [PHOTOS]
Reports: Mila Kunis gives birth to baby girl