Streisand, the singer-turned-actress who last said 'goodbye' to fans in 2000, will kick-off a 20 date run off in the autumn.
An insider told America's New York Post newspaper, "Barbra will perform 'in the round' from the middle of arenas. She'll be paid $2 million per show, with the best tickets retailing for $1,500 a pop."
They added: "Organizers are trying to find a suitable opening act...They've tried unsuccessfully for Rod Stewart, Neil Diamond and Andrea Bocelli as opening acts...Now they're trying to get Il Divo."
Although this latest tour has yet to be confirmed, Streisand's concerts are always lavish affairs and never fail to sell out. They also draw the cream of the entertainment world.
Her September 2000 show at New York's Madison Square Garden was attended by a galaxy of stars, including Rosie O'Donnell, Sarah Jessica Parker, Penny Marshall, Madeleine Albright and Drew Barrymore.
Despite being internationally renowned for her singing career, in recent years, the Brooklyn-born diva has carved out a successful career as an actress.
She starred in a string of acclaimed movies including 'Yentl,' 'Prince Of Tides' and 'Meet The Fockers.'