Galaxy Note 8 is estimated to use a curved screen design and larger than the Galaxy S8 (6.2 inches) and has a dual rear camera. Its predecessor, Note 7, measures 5.7 inches and uses one rear camera.
Meanwhile, a Samsung spokeswoman declined to comment on the news.
Samsung continues the Galaxy Note series after the battery failure that causes Note 7 to burn in some countries.
The incident, judged to be the biggest security failure in the technology industry, caused the South Korean company to suffer a $5.4 billion loss.
The new Galaxy S8 launched last April proves that Samsung is recovering quickly, analysts expect the phone could boost sales figures. So far, there have been no security constraint reports for S8.
Counterpoint Research estimates Samsung regained the position as the biggest player in global smartphone manufacturers in the first quarter after Apple had previously seized.
Apple is rumored to be launching the latest iPhone next October.