The presenter previously fronted the Film series for BBC One from 1999 until 2010, when he left the corporation after the Sachsgate scandal.
Ross's production company Hot Sauce will produce a pilot episode for ITV bosses later this month, according to The Sun.
A source said: "It will have a similar magazine format to Top Gear with celebrity guests, informed reviews and lots of laughs."
The show may be titled Jonathan Ross's LoveFilm Night, with a possible tie-in with the movie rental company.
The source added: "He's really excited about this. He loves film, and he knows so much. He doesn't want this just to be for movie nerds, he wants it to appeal to everyone.
"It will see him do stunts like send people out to try out top movie chat-up lines and see if they work. It could be huge."
Ross recently slammed his former employer for their coverage of the Diamond Jubilee, calling it "p*ss poor".
