The "Wolf of Wall Street" and "Dallas Buyers Club" actor would play a significant role in a Stephen King adaptation from "The Fault in Our Stars" director Josh Boone.
King's 1978 novel "The Stand" was previously converted into a four-part Emmy Award-winning television miniseries that broadcast in 1994, starring Gary Sinise, Rob Lowe, Molly Ringwald and Jamey Sheridan among its ensemble.
If an agreement is reached between Warner Bros and McConaughey, the deal would see him play King's sinister and destructive Randall Flagg, according to Deadline.
But Boone, who in June forecast a three-hour epic "with an amazing A-list cast across the board," said on Twitter that he'd had a different role in mind.
"I have always wanted McConaughey as [hero] Stu and [Christian] Bale as Flagg. Still not sure how that story leaked -- just not true," he said via @JoshBooneMovies.
"Not that either couldn't play the other role brilliantly -- but my heart's been there since I started writing," was the given context.
Already in place is Nat Wolff in an unspecified role, having previously worked with Boone on both "Stars" and "Stuck in Love."