Ahmed is in early talks to appear in the film from director Ruben Fleischer, Variety reported.
The actor's potential role is being kept under wraps with The Hollywood Reporter noting that he will not be playing Carnage, another major Spider-Man villain who is connected to Venom.
Venom, a mainstay in Marvel's Spider-Man comics, is a villain and then later an antihero. Venom is born after an alien symbiote bonds with photographer Eddie Brock who is then gifted with powers similar to Spider-Man's along with other abilities. The character was first portrayed by Topher Grace in 2007's Spider-Man 3.
The spinoff film is being penned by Scott Rosenberg (Jumanji) and Jeff Pinkner (The Dark Tower) and is due in theaters on Oct. 5, 2018. Sony has stated that the film does not connect with the recently released Spider-Man: Homecoming starring Tom Holland that takes place inside the Marvel cinematic universe.