Will, who previously appeared on the Britain's Got Talent live shows earlier this year, has been linked to a role alongside Cheryl at this year's judges' houses.
Although previous reports have suggested that Cheryl has invited Sia to join her in the South of France.
Cheryl and Will previously appeared together in the 2010 series which saw Rebecca Ferguson and Cher Lloyd make it into the final in Cheryl's girls category.
A source said today: "One of the things that Will has criticised The Voice for is that they don’t go on to develop talent as much as he would like – but he sees those opportunities on The X Factor."
As it stands, Will's yet to be confirmed for The Voice UK panel next year, with BBC bosses already in need of at least one new coach after Kylie Minogue previously announced her exit.
According to the Daily Mirror, it seems that Will may be set to follow in the footsteps of the Aussie popstar and quit the show.
The source added: “His whole ethos is finding new talent and developing it and he knows Cheryl is equally keen.
“It is something that Simon has praised Cheryl for in the past. Will is the same, so the two of them fit well together.”
The X Factor starts on ITV later this month while The Voice UK will return to BBC One in the new year.