The Titanic star, 34, is said to be in talks to tackle the real-life story of 22-year-old Natascha Kampusch, who was snatched as a child and held captive in a cellar for eight years.
Wolfgang Priklopil kidnapped Kampusch when she was walking home from school aged 10 and committed suicide after her escape in 2006.
Winslet has been named as the favourite to portray Kampusch in the film, which will be directed by Fantastic Four producer Bernd Eichinger, reports Britain's Daily Express.
Meanwhile Inglourious Basterds actor Christoph Waltz is rumoured to be taking on the role of Priklopil.
Speaking about the currently untitled movie, which is scheduled for a 2012 release, Eichinger tells the Austrian Times, "Natascha Kampusch trusts us and I appreciate that."
Kampusch adds, "Many kind letters convinced me to pursue plans to turn my story into a film."