The Black Swan actress is negotiating a deal to play a "major role" in the movie about the Apple co-founder - who died from pancreatic cancer in 2011 aged 56 - though the exact details of the part has not been revealed, Deadline reports.
The biopic has seen numerous changes since it was first mooted and was recently picked up by Universal Studios after Sony Pictures decided they no longer wished to be involved in the project.
The film will be helmed by Slumdog Millionaire director Danny Boyle, but the casting process has been a slow one after Leonardo DiCaprio - who was up for the role of Jobs - chose to take a hiatus from acting, and Christian Bale decided he would not be suitable to play the technology businessman and refused the part.
Michael Fassbender is believed to be in talks for the role, with Seth Rogen also apparently close to signing onto the project to play the role of Apple co-founder Steve Wozniak. Interstellar star Jessica Chastain is also rumoured to be attached to the film as an unspecified character.
Scripted by Aaron Sorkin with input from Walter Isaacson, who penned the entrepreneur's official biography, the project promises to focus on three key moments from the CEO's life: the launch of the Mac, the takeover of ill-fated computer company NeXT and the production of the iPod.
Portman is currently editing her directorial debut, A Tale Of Love And Darkness and has several movies waiting for release, including Jane Got A Gun and Knight Of Cups.