The actor is in early negotiations to play Dentist Orin Scrivello in the project, which Greg Berlanti will direct for Warner Bros.
The role was previously made famous by comedian Steve Martin in the 1986 film adaptation of the 1982 musical, which itself was a take on Roger Corman's original 1960 movie.
Also in tentative discussions for the new revamp are "Rocketman"'s Taron Egerton and Evans' "The Avengers" co-star Scarlett Johansson, who are respective frontrunners to portray Seymour Krelborn and his love interest, Audrey.
"Little Shop of Horrors" follows a florist who finds himself raising a killer plant that lives off human blood. "Pose" actor Billy Porter is said to be in consideration to voice the frightening creature, known as Audrey II.
The news of Evans' potential casting comes almost a year after he pleaded with producers to consider inviting him to play Scrivello, Audrey's crazed boyfriend.
"I want to do a musical so badly, man," he told The Hollywood Reporter in March, 2019. "Someone told me they're (remaking) Little Shop of Horrors and I was like, 'Oh, can I be down? Please? Can I be the dentist?'"
He has yet to comment on the "Little Shop of Horror" rumours.