After recent criticism that the "Avengers" films only have one "token" female leading character, Scarlett Johansson's Black Widow, Captain Marvel will be the first major female superhero in the Marvel Universe to front her own film, reported the Daily Star.
Both actresses are apparently keen to be involved in such a ground-breaking project.
"Marvel has been courting Angie to direct the project, and Charlize is a clear fan favourite for the starring role," an insider said.
The two Hollywood beauties have recently become friends after Theron started dating Sean Penn, who is a close pal of 39-year-old Jolie's husband Brad Pitt.
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"The girls realised they have a very similar outlook on life and quickly bonded over everything from their adopted children to their prospective Hollywood projects," a source said.
"If Charlize were to get the part, Angie would almost certainly sign on to work with her new friend," the insider said.
The upcoming film will focus on the story of one of the female Captain Marvels, Carol Danvers, a human woman who receives powers from an encounter from the alien Kree Empire.
"Captain Marvel" will be the twentieth film to be released by Marvel Studios for the Marvel Cinematic Universe and is slated for release in 2018.