The 20-year-old model is said to have auditioned for the movie's director Sam Taylor Wood after striking up a friendship with her husband Aaron Taylor-Johnson on the set of Anna Karenina, which the pair both starred in alongside Jude Law and Keira Knightley.
Having already had a small part in a Hollywood blockbuster before (she played Princess Sorokina in Anna Karenina), it seems Cara is now eager to build on her acting career and Fifty Shades Of Grey would certainly be a bold move!
A source told The Sun: "She's desperate to get the gig and has always said that she wanted to be taken seriously as an actress."
Although it is unclear which character Cara is supposed to have auditioned for, apparently Sam Taylor Wood is just as keen to have the stunning model in her film that she is even considering writing in a role specifically for her.
However, before we get too excited about the fun-loving fashionista appearing in Fifty Shades Of Grey, nothing has been confirmed.
In fact, this week Cara hinted that a recent headline about her was incorrect by tweeting: "Sorry to all the spelling bees!! Don't listen to the press, they need to get their facts straight... Once again."
Nevertheless, we can still catch Cara on the big screen at some stage, as she has landed a part in an upcoming Brit film called Kids In Love, which is said to be about rich youngsters partying in London. Not too different from her normal life then!
Would you like to see Cara in Fifty Shades Of Grey? Let us know below, as the best comment each week wins £50!