Warner Bros. confirms that the two are in negotiations to remake the 1937 classic.
Eastwood is in talks to direct, while Beyonce, who has been attached to the project for some time, would star.
Set to produce are Billy Gerber, Basil Iwanyk and Jon Peters, who made the 1976 version of the film with Barbra Streisand and Kris Kristofferson.
Corporate spokeswoman Jessica Zacholl notes that the deals have not been finalized and negotiations are ongoing.
