The New York Post reports that Myers is currently in discussions to turn his trilogy of hits into a musical for the Broadway stage.
Myers, who has also signed a deal for a fourth "Austin Powers" film, will not star in the Broadway production.
The "Austin Powers" trilogy, which included "Austin Powers: International Man of Mystery," "The Spy Who Shagged Me" and "Goldmember," grossed $676 million worldwide.
No official announcement about a Broadway production has been made.