CNN has reached out to Cavill’s representatives for further comment.
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Cavill debuted as the iconic character in 2013’s “Man of Steel.”
The film made more than $660 million worldwide, but it received mixed reviews, as did 2016’s “Batman v. Superman: Dawn of Justice.”
Cavill also reprised his role in last year’s “Justice League.”
According to The Hollywood Reporter article, Warner Bros. had been hoping Cavill would make a cameo in “Shazam!,” which stars Zachary Levi, but those negotiations fell apart due to scheduling conflicts. (Cavill recently signed on to lead a series based on “The Witcher” novels for Netflix.)
The report also said the studio’s priorities are focusing largely on an upcoming “Supergirl” film, sidelining any storyline that would involve Cavill.
Behind the scenes, there have been other signs of ongoing efforts to revamp DC Comics-based movies.
In June, Geoff Johns, who had been chief creative officer of DC Entertainment since 2010, left his position to focus on writing and producing Warner Bros and DC films and television shows.
DC Entertainment President Diane Nelson also stepped down this summer.
The news of Cavill’s possible ouster comes as the future of Ben Affleck as Batman also remains in question.
Since last summer, rumors that Affleck’s days as the caped crusader were numbered have swirled.
Affleck has remained steadfast that he’s committed to the role.