The publisher is currently presenting agencies with its plans and the launch is understood to be set for later this year.
The title will be aimed at affluent ABC1 women in the 25- to 40-year-old age bracket and will have a focus on celebrity and fashion.
ShortList launched in September 2007 as a free mass- circulation weekly magazine.
Since then, the free weekly claims to have had a negative impact on sales of paid-for men's titles and to have been a contributor to the closure of Bauer Media's Arena magazine earlier this month.
In the last set of ABC results, ShortList's distribution was up 5.1 per cent on the previous six months to 505,970 in the second half of 2008.