The star's production company Plan B worked on Tim Burton's 2005 version, which starred Johnny Depp as eccentric sweet factory owner Willy, and is now involved in the early stages of production on a reboot.
A source tells British newspaper The Sun that Brad is intent on taking the iconic role himself this time as he wants to impress his and ex-wife Angelina Jolie's six children.
"Plan B floated the idea of Brad playing the role 15 years ago and that could possibly be on the table again," the insider reveals. "He's more intrigued than ever and would love the blockbuster pay cheque."
"Plus, it's the kind of movie his younger kids have been bugging him to make for years, where he could unleash his silly, comedic side like never before."
Revealing the "Once Upon a Time in Hollywood" actor is in serious contention for the part, the source adds: "Brad has a passion for Roald Dahl's story and the last Wonka film put his company on the map. It would be a real left-field choice, but Brad is certainly in contention."