It would be a surprise move given that Hamilton has signed a two-year contract with his current team Mercedes for the 2024 and 2025 seasons, but the deal reportedly contains a clause allowing him to leave after one season.
Hamilton won the last of his world titles in 2020 but lost the 2021 championship in controversial fashion to Max Verstappen, 13 years his junior.
The Dutch Red Bull driver has dominated ever since, while Hamilton finished sixth in the drivers’ standings in 2022 and third in 2023.
Ferrari, who have admitted they held discussions with Hamilton in 2019 about joining them in the future, declined to comment on the reports they were negotiating a switch for the 2025 season.
A Ferrari spokesman said: “We do not comment on rumours.”
Mercedes did not reply when contacted by AFP.