The 58-year-old filmmaker, who won the best director Oscar, his second, this year for India-set drama, is said to be "intrigued" by the offer but things are yet to move to a formal level, reported Ace Showbiz.
The director is famous for his genre-defying take on movie making and this film could be another such story for the Taiwanese-born helmer.
Penned by "Paradise Lost" scribe Stuart Hazeldine and "Green Lantern" screenwriter Michael Green, "Gods and Kings" is based on the Book of Exodus and other stories from the Old Testament.
Meanwhile, Lee has found himself a TV project post his triumph at the Oscars.
He is committed to make his TV directorial debut with the pilot for FX's "Tyrant" from award-winning producers Howard Gordon and Gideon Raff.
The project, which is written by Raff, is Lee's first project post "Life of Pi". Production on the pilot is scheduled to begin this summer in Morocco.