Hughton has led the Seagulls to third in the Championship this season.
The tabloid claims that while Hughton is reluctant to be shortlisted for the position, he would be keen if an approach is made.
After saving Brighton from the drop last season the 57-year-old has transformed the Seagulls into promotion contenders this time around, with only a point keeping them outside the top two at present.
Hughton led Villa's rivals Birmingham City to the play-offs during his only campaign in charge, but was lured to Norwich City after he failed to take the Blues up.
Villa, who appear resigned to relegation this season, will be looking to bounce back at the first attempt next term.
And Hughton's track record suggests he could be the man to achieve that, having done likewise with Newcastle United in 2009-10.
The former Tottenham defender has never ended a complete Championship season outside the top six, and that looks set to continue this term.
The report claims that Villa have drawn up a three-man shortlist to replace Remi Garde, comprising Nigel Pearson, Steve Bruce and Sean Dyche.