U.S., Japan discussing whaling trade-off: report
IWC Chairman William Hogarth had been working on a pact over the weekend, it added.
Such a trade off has been floated in the past.
Commercial whaling was banned under a 1986 treaty, with which Japan officially complied. But the Japanese government has continued what it calls a scientific whaling program, the target of criticism from anti-whaling countries such as Australia and Britain.
Japan's whaling fleet is currently engaged in its annual Antarctic whale hunt, aimed at catching about 900 whales.
Japan has frequently threatened to quit the IWC, but it has denied that the country would be better off if the IWC were to collapse. The group is set to hold its 61st annual meeting in Madeira in June.
A senior Japanese fisheries official said last week that the coming year would be "a moment of truth for the IWC" and added that if talks at the body failed, meetings could stop for several years.
(Reporting by Chisa Fujioka)