The Journey to the Center of the Earth star, 17, has emerged as a frontrunner for the prestigious part, alongside Jamie Bell and Andrew Garfield.
But Hutcherson confesses he doesn't think much of his chances, because every young actor in Hollywood has been linked to the role.
He tells WENN.com, "I've read for it, but I think a lot of people have. You know, it would be an amazing project and it's so big, it's hard to fathom.... I'm sure I'll hear about it soon."
Movie producers are planning to turn back time for the prequel, taking Spider-Man's alter-ego Peter Parker back to high school, before he became the web-slinging superhero, portrayed by Tobey Maguire in the first three films.
Maguire and director Sam Raimi quit the blockbuster franchise earlier this year (10).