The Sun newspaper says Sir Elton, 65, and partner David Furnish, 50, will become fathers again next year.
The couple already have a 23-month-old son, Zachary, born on December 25, 2010, via a surrogate.
The tabloid newspaper says the couple plan to use the same surrogate who gave birth to Zachary.
Sir Elton’s agent refused to comment, the report says.