Elle Macpherson has signed up to host 'Fashion Star'.

The supermodel - who hosts 'Britain and Ireland's Next Top Model' - looks set to front the US fashion show, despite being widely tipped to replace Sarah Murdoch as the presenter of this year's 'Australia's Next Top Model' in her native country.

'Fashion Star' features 12 wannabe designers competing to win a multi-million-dollar contract to launch their line in top US department stores.

The 47-year-old beauty is set to go head-to-head with 'Project Runway' host Heidi Klum as 'Fashion Star' - which will see Jessica Simpson, Nicole Richie, and John Varvatos mentor contestants - has drawn comparisons with the 38-year-old model's show due to their similar formats.

A source explained: "It's the talk of New York. Elle has spent a lot of time In America working on 'Fashion Star' and a move is in the pipeline.

"But Heidi is determined that 'Fashion Star' doesn't eclipse her own 'Project Runway'."

Elizabeth Hurley, Alyssa Sutherland and Kristy Hinze have all been linked with hosting 'Australia's Next Top Model' after Elle effectively ruled herself out of the presenting role by signing up to the NBC show.