Clint Eastwood will direct a new version of the classic tale with the singer/actress in the role of a young star who falls in love with an older musician mentor, following in the footsteps of both Judy Garland and Barbra Streisand.
A number of high-profile leading men have been linked to the project, including Leonardo DiCaprio, Christian Bale, Tom Cruise and Will Smith.
The Hangover star Cooper has also been rumoured to be in contention, but he insists the story isn't true.
He tells American newspaper the Chicago Sun-Times, "Me in A Star is Born? I have no idea what you're talking about... It is an interesting idea. Clint is one of our best directors. Everyone wants to work with him."