The ITV star has long been a stand-in or support presenter for shows starring Ant and Dec, Holly Willoughby and Phillip Schofield, but had been named as a favourite to replace Schofield after his exit from the broadcaster.
Although it isn't yet known whether Willoughby, who quit This Morning last week, will stay on at Dancing On Ice, it seems Mulhern could be about to be promoted to show host - and he'd love Willoughby to be alongside him.
Mulhern, 46, has previously hosted spin-off show Defrosted and told MailOnline he had "really enjoyed" covering for Schofield on the main show when he was off with Covid, adding that it had been "so lovely being back with Holly", saying that they "had a great time together".
He said of being the new Dancing On Ice host: "We are talking about it, but I promise you now that nothing is confirmed but if it happens, it will be absolutely amazing... if it doesn't, look, it doesn't. I promise you I would tell you if we had it confirmed at this point.
"The lineup is the best it has been in a few years... I am keeping across the lineup, just in case... It is a huge staple, and it has been around."
Schofield left This Morning in May, followed by all of his other ITV work including hosting the National Television Awards, after details emerged of his affair with a much younger colleague.
No announcement has been made yet on whether his ex co-star Willoughby will be back in January for the new season of Dancing On Ice after she exited This Morning following police uncovering a plot to abduct her.
Mulhern, who has also worked as a magician, hosts regular segments for Ant & Dec's Saturday Night Takeaway on ITV and used to co-host children's TV show Holly & Stephen's Saturday Showdown with Willoughby in one of her early roles.
Their career paths have also crossed for shows including Junior Eurovision, Celebrity Juice and This Morning.
Dancing On Ice's 2024 cast will include Adele Roberts, Ryan Thomas, Hannah Spearritt, Claire Sweeney and Amber Davies when it returns in January.