Horn stunned Manny Pacquiao in a unanimous 12-round points decision in July, with the Filipino great pulling out of a planned rematch later this year.
This has opened the door to Corcoran, with the bout set for December 13 in Brisbane as part of a two-fight deal inked with the Queensland state government, the Brisbane Courier- Mail said.
If he wins, Horn would then hopes to fight mixed martial arts champion McGregor, who made his boxing debut in a money- spinning defeat to Floyd Mayweather in Las Vegas in August, the report added.
"Corcoran is 26, so he's three years younger than me -- he's very fit, strong and hungry," Horn told the newspaper.
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"He's a dangerous guy. I know what it's like to be a determined underdog just like he is going into this fight.
"This is his golden opportunity to do what I did against Pacquiao but there are millions of dollars on offer for me with big fights in 2018 so I can't let this guy come to my home town and wreck all my good work."
He told World Boxing News earlier this month he was keen to face Horn in the biggest fight of his career.
"Horn is there to beat, I can beat him. I've sparred with some world class fighters in this country, I can win a world title," Corcoran said.
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