The late singer's previous hits album, Whitney: The Greatest Hits, came out in 2000, but the news source reports that the latest set is expected to go more in-depth, spanning Houston's entire career.
Whitney: The Greatest Hits became this year's fourth biggest-selling album after Houston's death, selling 836,000 so far. The album has sold a cumulative 2.6 million copies in the U.S. since its debut.
The soundtrack to Houston's final film Sparkle, out August 17, has also been on Billboard's radar, selling 12,000 copies in its first week.
The new project will have plenty of choices, as Houston earned 39 hit singles on the Billboard Hot 100 over the span of her career -- 11 of which reached No. 1.
The exact release date of the upcoming album has yet to be announced.