According to reports, David will play the role of Superman's enemy, Mr Myxlplyx, in the "Man of Steel" sequel that features both Batman and Superman, reported Radar Online.
"The pair chatted about the idea with earnest abandon throughout the course of Emmy weekend. Larry has long been courted by the big budget superhero industrial complex, being linked to roles in the Sam Raimi Spider-Man sequels nearly a decade ago," a source said.
David, 66, is an actor, writer, comedian and television producer best known for being the head writer and executive producer of "Seinfeld". He also created the HBO series "Curb Your Enthusiasm".