The entertainment news website said Hilton divulged her new business relationship with Cash Money Records while in France for the Cannes Film Festival.
The album will feature many hip hop performers such as Lil Wayne, Showbiz411.com said, and is being produced by Afrojack. Hilton, whose first stab at music was her 2006 self-titled album produced in association with Warner Bros. that received mixed reviews, said she hopes to have the album out this summer.
"This is a lot different than my first album," Paris told Showbiz411.com. "It's really going to be house music."
Hilton, 32, also divulged she will soon release her 17th perfume and is starting the Paris Hilton Foundation for children's causes.
MTV News reported representatives for Cash Money confirmed Hilton is with the label, though Hilton's representative said nothing was finalized.
"Paris Hilton is in talks with a number of record labels right now but we can't confirm anything. When a deal is finalized we will make an official announcement," the unidentified representative said.