Although no official offer has been made, some preliminary talks have taken place, The Hollywood Reporter said.
New Line President Toby Emmerich did admit in 2014, "James will make an important movie for New Line and Warner Bros or DC, and that is definitely part of the plan, and a reason for bringing him into the family. He's the only overall director with a deal here, because we see him as a class of one."
The director himself previously expressed his interest in directing a DC superhero movie.
Wan has just finished "Furious 7" which made a record-breaking debut at the box office. Due to the movie's huge success, Universal hopes to sign him on for "Fast and Furious 8".
"Aquaman" will not arrive until July 27, 2018.