Fonda's publicist told CNN that the actress is in talks to play former first lady Nancy Reagan in an upcoming movie called "The Butler."
The movie tells the true-life story of Eugene Allen, who worked as a White House butler from 1952 to 1986. Allen served eight presidents, from Harry Truman through Reagan.
Filming is supposed to begin this summer.
Trade publications say Forest Whitaker is closing a deal to play Allen, while Oprah Winfrey is in talks to play the butler's wife. The movie will reportedly be directed by Lee Daniels, who earned an Oscar for directing "Precious."