The 'Ask and You Shall Receive' singer is said to be in advanced talks to present the ceremony that will take place at Manchester's Co-op Live Arena next month.
A source told The Sun newspaper's Bizarre column: "Rita couldn't be more excited. She is spinning a lot of plates at the moment but her first love will always be music, which is why when she was asked to present the ceremony, she jumped at the chance.
"Talks between MTV and Rita's new management are ongoing and they're just ironing out the finer details.
"The ceremony is taking place on November 10 so there isn't much time to spare, but Rita is up for it."
The hosting job is familiar to Rita as she previously presented the ceremony when it was last held in the UK at Wembley Arena in 2017.
The 33-year-old star has been working on a number of projects over the past year - including the film 'He Bled Neon' with Jack O'Connell - and explained that she also has an "awkward" new album in the pipeline.
She said: "My upcoming album - everything's a bit awkward, a bit off, a little less perfect. Not super-polished. "That's the challenge, I like to evolve."
Rita previously teased that the new record will be a "bit darker" and a "bit more spicy".
She told Billboard: "This album is something I'm actually really excited about.
"I'm spending the rest of the year making it. I'm feeling super, super inspired creatively, just having that essence of feeling a bit like not everything is perfect, which was kind of my motive with this. Everything's just a bit left like that. Sonically, feeling a bit darker, a bit more spicy, a bit more aggressive, just getting in my like, uncomfortable era."