The former Baywatch pinup is said to be on the brink of signing up for the show, which launches on Channel 5 this month.
And the 44-year-old is no stranger to reality TV, having joined the Australian Big Brother in 2008, and the Indian version called Bigg Boss, last year.
She was also in talks to appear on the show last year, but refused to do it unless her ex-husband Tommy Lee did it too.
A source told the Daily Star, 'The time is right for Pamela and she's going to be a TV treat for BB fans.'
Other names linked to the show include Charlie Sheen, 45, Duchess of York Sarah Ferguson, 51, and ex-boxer Mike Tyson, 45.