The controversial singer is believed to be wanted by TV bosses for the Sleeping with Perez programme, due to hit screens later this year.
Katy Perry, Kelly Rowland and Enrique Iglesias are also in line to be on the show, but it is thought they are only set to receive £140,000.
A source told the Daily Star newspaper: "Lady Gaga is the biggest thing in pop right now so it's normal to have to shell out more cash on her. It's going to be a fab show."
Gaga - whose real name is Stefani Germanotta – is known for her kooky exploits, such as when she attended the MTV Video Music Awards last year wearing a dress made of meat and arrived at the Grammy Awards earlier this year encased in a giant egg.
The show – which is set to be produced by STV - will air in December, and it is hoped Perez's close relationships with big stars will make for some great TV moments.
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