The studio is close to landing the rights to make the film based on the pocket monster game from Japan, reported Deadline.
Details are scant at this point and no deal has been closed, but it's headed that way, according to sources.
Legendary and Pokemon USA have not commented on the report as both parties are presumably still hammering the deal.
"Pokemon" has suddenly become a big thing again following the release of "Pokemon GO".
The new game puts Pokemon in the real world by utilizing GPS location information and makes players chase down the virtual pocket monsters in their own vehicles.