The Oscar-winning actress could join Jeff Bridges and Brenton Thwaites in the cast, according to The Hollywood Reporter.
Directed by Phillip Noyce, the film centres around members of a society where there is no conflict, racism or sickness.
Meryl would play the society's chief elder.
The script for the film, expected to shoot in South Africa, is being adapted from a novel by US writer Lois Lowry.
Meryl will next star in August: Osage County alongside Julia Roberts, Ewan McGregor and Benedict Cumberbatch.
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You long to have some fun, but responsibilities require your attention. Set some reasonable goals and then reward yourself when you finish them in the allotted time. Having incentives will keep you focused and productive. Fortunately, a loved one is offering lots of support. Lean on this friend when you feel discouraged. With their encouragement, you'll be able to finish work in record time. After hours, you'll be able to share a good meal together. Do your best to balance work with play.More