The prospect fits in with Amazon's plans to make its own Game Of Thrones.
The aim of the show would be to include the elements that Peter Jackson was forced to exclude due to limitations with film run times.
Warner Bros. have finally resolved the issues between them and Tolkien's estate that caused issues surrounding the release of the trilogy in the noughties.
The films were critically acclaimed and heavily awarded, winning 17 out of 30 total Academy Award nominations and grossing $2.917 billion overall.
The films would be a hard act for the series to follow, but Amazon appear to be expanding their TV horizons rapidly.
Earlier this year, they announced the launch of their Anime and Sports streaming channels.