Jordan would present the as-yet-unnamed show Cowell is proposing to bring to ITV, although there are few details of what form the reality TV show would take.
The show would not, like 'Pop Idol' or 'X-Factor', which begins on Saturday on ITV1, be music based and Cowell would not be making any appearances.
The programme would be part of the production deal that Cowell has with ITV and would be produced by his new independent production company Syco.
The programme is being slated to air in the autumn and a report in the Daily Star says that the deal could be worth up to £2m.
Earlier this year, the glamour girl proved a hit when she was one of the celebrities who appeared in ITV1's 'I'm a Celebrity... Get Me Out of Here!'.
At one point she was tipped to win the show, eventually won by former Atomic Kitten Kerry McFadden, and was slated to make more than £1m on the back of her appearance.
Despite not winning, Jordan stole all of the headlines for her flirting with Peter Andre and flashing her 34FF breasts in front of the camera.
Cowell said: "It's an interesting Saturday night show. I'm very excited about it and Jordan will be perfect for it. She's going to play a great role in it."
According to reports, Jordan has yet to sign a contract, but Cowell is confident she will agree a deal.
"I desperately want her to do it. I like her. I like her honesty," Cowell added.
The Jordan reality TV project would follow directly after Cowell's TV talent search show, 'X Factor', which looks set to be a ratings hit for ITV.
Test reaction to the show at the Edinburgh TV festival was good, bringing welcome news for ITV, which like the BBC has struggled to find a Saturday hit recently.
Last year, 'Pop Idol' regularly secured 8m viewers and was a big hit for ITV1.
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