The 62-year-old filmmaker, who will regain certain rights of the film in 2019, is in early talks with Miller, 46, to direct "a reboot and conclusion" of the hit sci-fi action movie franchise, reported Deadline.
Ever since Cameron left the 'Terminator' series, none of the follow-up movies were as successful as the first two he directed.
The plot Cameron will go with for the new movie is still unclear.
Cameron's last involvement in the 'Terminator' series was "Terminator 2: Judgment Day". He walked away from the project after he failed to buy the rights back of the movie.
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