Rumors are that Marvel's upcoming action-fantasy movie "Thor: Ragnarok" might feature Oscar winning actress Cate Blanchett playing one of the lead female roles.

According to The Hollywood Reporter, Blanchett is currently in final negotiations with Marvel heads to star in the upcoming film.

While it still remains unclear as what character Blanchett would portray, several sources claim that Marvel has been on the hunt for a "bad-ass female."

It is likely that based on her physical features, the 46-year-old "Carol" actress may play the role of female super heroine Valkyrie in the third installment to the Thor franchise, according to MoviePilot.

Asgardian born warrior Valkyrie is chosen by Odin himself to lead a female human warrior team, as noted in the report. She has been a member of Defenders as well as Avengers.

However, there are also a couple of other characters that Cate Blanchett might bring to life in the movie "Thor: Ragnarok." One such character includes the supervillain Queen Hela, who is the daughter of the God of Mischief, Loki.

Another possible role for the actress would be Amora a.k.a. The Enchantress, regarded as one of greatest enemies of Thor.

Marvel is yet to comment on whether Cate Blanchett has been officially signed for "Thor: Ragnarok."

Other actors already confirmed for the Marvel movie include Chris Hemsworth, who will be seen reprising his role as the Norse God, Avengers star's Mark Ruffalo as the Hulk, Tom Hiddleston as Loki and Jaimie Alexander as Lady Sif.

"Thor: Ragnarok" is directed by Taika Waiti, who co-wrote and co-directed vampire movie "What We Do in the Shadows." The script is written by Christopher Yost and recently revised by Stephany Folsom.

The movie is slated to arrive in theatres on November 3, 2017.

Stay tuned with Kdramastars for more updates on the casting for the third installment of Marvel's Thor movies.