Boyle, who won the 2009 Best Director Oscar for his India-set "Slumdog Millionaire", also has critically-acclaimed titles such as "Trainspotting" and "127 Hours" to his credit.
The 61-year-old director is a favourite of Eon Productions and MGM Studios for the next installment in the James Bond series, reported Variety.
The studio earlier hoped to collaborate with the Oscar-winning director on "Skyfall" and "Spectre", which were eventually helmed by Sam Mendes.
Boyle has always shown a keen interest in directing a Bond film. He last helmed "T2", a sequel to his highly acclaimed 1996 black comedy "Trainspotting".
Recently, "Dunkirk" director Christopher Nolan had denied that he will be directing the next Bond film.
"I won't be the man (to direct the next Bond). No, categorically. I think every time they hire a new director I'm rumoured to be doing it,' Nolan had said.
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