Variety reports that the role has not actually been offered to the Grammy winner just yet, but she ranks high on the producers' wish list. The film will be based on the Sheila Weller book Girls Like Us, which follows the careers of Mitchell and her fellow singer-songwriters Carole King and Carly Simon as they come of age in the late '60s.
An eight-time Grammy winner, the Canadian Mitchell is perhaps best known for such seminal albums as Blue and Court and Spark.
Taylor made her big-screen debut playing the girlfriend of Talor Lautner in the ensemble romantic comedy Valentine's Day, and recently lent her voice to the animated box-office hit Dr. Seuss' The Lorax. Her song Eyes Open is currently featured on the Hunger Games soundtrack.