The actress is in negations to star as the lead role in the film based on the popular Mattel toy line, noted The Hollywood Reporter.
Australian director Alethea Jones, best known for her work on Fun Mom Dinner, is in talks to helm the comedy, Variety reported.
Sony still wants the film to release on June 29, 2018. If Hathaway's schedule conflicts with the release date, a deal may not be made.
Schumer left the project after working on the script with her sister Kim Caramele citing "scheduling conflicts."
"The film has so much promise, and Sony and Mattel have been great partners. I'm bummed, but look forward to seeing Barbie on the big screen," the comedian said in a statement at the time.
Previously, the plot of the film revolved around Schumer bring kicked out of Barbie-land for not being perfect enough. After going on in an adventure in the real world, the main character would have then return to Barbie-land with a newfound acceptance of herself.