Lawrence, who will be back in theaters next month in the studio's final "Hunger Games" sequel, had been previously attached to the project, which is an adaptation of Jeannette Walls' best-selling memoir.
Should the deal happen, Larson would work with director Destin Daniel Cretton, who directed her in 2013's critically acclaimed indie drama "Short Term 12." Marti Noxon wrote the first draft of the script, and Gil Netter and Erik Feig are producing.
Lawrence had signed on to the project in late 2013 to both star in it and produce it. However, she eventually dropped out, and now has the sci-fi film "Passengers" in the works, as well as a screenplay with friend Amy Schumer.
"The Glass Castle" is about a young girl who comes of age in a dysfunctional family of nonconformist nomads led by a mother and father who attempt to distract the children from their poverty.
Larson recently starred in "Room," a drama about a mother who is held in captivity with her 5-year-old child. The adaptation of Emma Donoghue's novel debuted to rave reviews at the Telluride Film Festival, as well as the Toronto International Film Festival. She also starred as Schumer's sister in Judd Apatow's summer comedy hit "Trainwreck."
Her upcoming projects include "Battle of the Sexes," "Wiener-Dog," "Free Fire" and "Kong: Skull Island."
She is repped by WME, Authentic Talent and Literary Management and Sloane, Offer.
Lionsgate declined to comment to TheWrap.