The host of "Late Night with Seth Meyers", is known for his political skits and criticism of US President Donald Trump and his administration.
If finalised, Meyers will succeed Jimmy Fallon who hosted this year's ceremony, reported Variety.
TV hosts Ellen DeGeneres and Tiffany Haddish were among the stars, who approached for the job.
Tina Fey and Amy Poehler turned down the offer, having hosted from 2013-2015.
Ricky Gervais had emceed the awards from 2010 to 2012 and once again in 2016.
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