If things workout, the 35-year-old British actor will play the grown-up version of Michael Banks, joining Emily Blunt and Lin-Manuel Miranda in the sequel to 1964's 'Mary Poppins'," said The Hollywood Reporter.
Rob Marshall will direct the project, which is set for a December 25, 2018 release.
The film reunites the helmer and Blunt after they worked together in 2014's "Into the Woods".
The 33-year-old actress has been tapped to portray the titular character.
Streep is in talks to play the role of Mary Poppins' cousin Topsy.
Through her unique magical skills and with the aid of her friend Jack, she helps the family rediscover the joy and wonder missing in their lives.
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