The reigning champion of the ITV series is said to have almost finished his record, slated for release in November.
And according to The Sun, it could feature recent Number 1 hitmaker Dua Lipa.
"Matt has been hanging out with Dua a lot recently. They have been having a great time," a source said. “Matt’s album is nearly finished but he is still looking for one final song to complete it.
“He thinks Dua would be a perfect fit.”
Earlier this year Matt scored a latest Top 10 hit after appearing alongside Enrique Iglesias on Turn Up The Radio.
Matt's own new single is expected to drop soon having signed a big record deal after beating Saara Aalto to victory in last year's X Factor final.
Although Simon Cowell signed a number of acts from the show - including Honey G and 5 After Midnight - Matt wasn't one of them.
Instead, he's partnered up with RCA Records to put out his winner's album.
Speaking earlier this year, Matt insisted he didn't mind.
"Each label suits an artist differently,” he said. “We just felt RCA would suit me better as they have put amazing people out there such as Beyonce, Justin Timberlake, Alicia Keys and Olly Murs."
Matt continued: “However, Simon said if I ever needed him, I could speak to him.
“He’s a lovely guy.
“Simon gave me this amazing opportunity so I’ll always be grateful to him.”