The company plans to file documents with the U.S. financial supervision, on Wednesday, the Financial Times and the Wall Street Journal.
Flotation later this year would raise about $ 10 billion, they reported.
It would be one of the biggest sales of shares seen on Wall Street.
It would dwarf the $ 1.9 billion raised by Google at its IPO in 2004.
However, it would still be some way short of the $ 20 billion raised by automaker General Motors in November 2010.
"A brilliant achievement"
Reports suggest that Morgan Stanley will be the lead agency for the sale, with Goldman Sachs also expected to be heavily involved.
Facebook rumors of so-called initial public offering (IPO) have been circulating for months, and the company maintained that it will not comment on the subject.
The value reported would be the one of the largest companies in the world by market capitalization of Facebook.
"Facebook a brilliant achievement, but $ 75 - $ 100 billion would make Apple look really cheap," said Rupert Murdoch on Twitter.
The company was started by Mark Zuckerberg and other students at Harvard University in 2004 and has quickly grown to become one of the most popular sites in the world.
It makes most of its money through advertising.
As a private company, Facebook does not publish its accounts, but reports in January last year proposed a document sent by Goldman Sachs to its customers has led the firm made a net profit of $ 355 million revenues of $ 1.2 billion for the first nine months of 2010
