The first phase of the subscription model would see up to 50 channels take part, each charging viewers $1.99 (£1.28) a month for their material, according to the Financial Times.
The paid-for streams would offer premium video from the teams behind already-popular channels on the platform, some of whom have millions of unpaid subscribers.
Google have attempted to bring premium video to the site before, investing $150 million in a range of channels aimed at providing more ‘television-like’ long-form shows.
At present, videomakers can make money on YouTube through Google’s AdSense programme, while film and television studios can offer their product on an ad-free paid rental basis.
In a statement, Google, which owns YouTube, said: “We have nothing to announce at this time, but we’re looking into creating a subscription platform that could bring even more great content to YouTube for our users to enjoy and provide our partners with another vehicle to generate revenue from their content, beyond the rental and ad-supported models we offer.”
According to Google, the YouTube site receives over 1 billion page views every month.