News Corp Australia reported on Thursday that Fittler was poised to make a comeback with the Roosters at the NRL's new pre-season tournament.
Fittler later acknowledged on Twitter the speculation was correct.
"Pumped about given the opportunity to play again for the roosters. Demi has been keeping me fairly fit. #icebath," the rugby league great posted.
The deal is yet to be rubber stamped by the NRL.
"We'll be investigating the proposal with the NRL when they reopen on Monday," Roosters chief operating officer Brian Canavan told News Corp.
Fittler will be 42 when the two-day tournament starts in New Zealand on February 15.
He played the last of his 336 first-grade games in 2004, then coached the Roosters from 2007-2009.