Sharon Osbourne is set to sign a £2m deal to return to The X Factor, according to the Sunday People.

The paper reports that the former judge – who quit the series in 2007 – will meet with show bosses and sign on the dotted line within days.

And there is speculation that she could earn a further £500,000 from forthcoming publishing deals as well as returning to the verse.

“Sharon will be an X Factor judge and it is only a matter of days before the deal is finalised,” a source told the paper.

“She is being paid a hefty sum of £2m as Simon Cowell is desperate to have her on the show. She is also expecting to earn half a million more in book and publishing deals. There is no way she would turn down such a well-paid job.”

The move is being seen as the latest attempt to boost ratings for the show, which dropped in 2012 and was beaten on several occasions by Strictly Come Dancing.

The future of the other judges on the show still remains unclear, although it is thought that Louis Walsh and Gary Barlow will return.

Nicole Scherzinger is reported to have demanded £1.5m – double her fee for the 2012 series – to return to the panel, while reports have suggested Tulisa Contostavlos may not be back, although these are unconfirmed.

There is also speculation that Simon Cowell may return to play a more active role in the show, which celebrates its tenth anniversary this year.

Reports have suggested he may appear via satellite link-up from Los Angeles to act as a judge during the show’s live heats.