The 44-year-old actress is in early negotiations to take the leading role in Terence Rattigan`s `After the Dance` - about a man who leaves his wife for a younger woman - on the Broadway stage in either spring or autumn 2013, according to the Daily Mail newspaper.
Should talks be completed, it would be the first time the Australian star has appeared in a New York theatre since David Hare`s `The Blue Room, directed by Sam Mendes, in 1998.
She was due to work on `Sweet Bird of Youth` with James Franco but production was postponed.
Nicole - who is married to country singer Keith Urban - won an Oscar-nomination for her performance in 2010`s `Rabbit Hole`, and also appeared in Jennifer Aniston romantic comedy `Just Go With It` in 2011.
She has a number of movie roles lined up, including `The Paperboy` with Zac Efron and Matthew McConaughey and `The Railway Man` with British actors Colin Firth and Jeremy Irvine.
Nicole and Colin are thought to be going to the Cannes Film Festival in May to talk to distributors about the film.