Henry Cavill is hanging up his Superman cape after five years as the superhero.

And rumours are already circulating about who will take the role of the DC Comics favourite.

Michael B Jordan's name has been at the top of many lists, according to Deadline, who reported movie studio Warner Bros "has been mulling a completely different direction with its Superman canon for some time."

Jordan proved his action chops playing villain Erik Killmonger in February's Marvel blockbuster Black Panther.

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Henry Cavill is reportedly hanging up his cape after scheduling conflicts. Photo / Supplied
Henry Cavill is reportedly hanging up his cape after scheduling conflicts. Photo / Supplied

Any potential casting would be "down the road" however, as Warner Bros. is currently focusing their might on a Supergirl film.

Meanwhile, Cavill is reportedly saying goodbye to the DC Universe as scheduling conflicts appear to have lead Warner Bros to rule out any future appearances for the actor, according to a story from The Hollywood Reporter.

Henry was set to appear as Superman in next April's release of Shazam!, which stars Zachary Levi but reportedly contract talks between the actor's representatives and Warner Bros broke down.

It's thought Henry's new lead role in Netflix series The Witcher meant he couldn't commit to the Shazam! cameo.

Though Cavill's departure was widely reported, Warner Bros wasn't confirming or denying any news about the franchise.

They released a statement that explained: "While no decisions have been made regarding any upcoming Superman films, we've always had great respect for and a great relationship with Henry Cavill, and that remains unchanged."

Henry first played Superman in 2013's Man of Steel, before the 2016 follow-up Batman v. Superman alongside Ben Affleck as Batman and last year's Justice League.

The reported cancellation is said to have led the studio to rule out future cameos, with its focus now on a Supergirl origin movie, following the success of Gal Gadot as Wonder Woman, with that time shift meaning an adult Superman character would not work.

A Supergirl film will follow rival Marvel's introduction of Brie Larson as Carol Danvers, aka Captain Marvel - the first female superhero in the MCU to have a standalone film - next March.

With its Supergirl plans, WB is said to be keen to shelve the character of Superman for a few years before a Bond style reboot with a new leading man.

"Superman is like James Bond, and after a certain run you have to look at new actors," a studio source has claimed to THR.

The source adds that the studio realises it may be due a shakeup as their last movies didn't perform as well as hoped. "There's a recognition that some parts of the previous movies didn't work," says the studio insider.

Justice League ended its theatrical run with a worldwide box office total of US$657,924,295, meaning it stands as the lowest grossing film of the DC Extended Universe.

A representative for Henry has been contacted by MailOnline for comment.

It was announced last week that Henry has been cast in the upcoming Netflix adaptation of The Witcher as Geralt of Rivia, the main character in the popular fantasy universe that's previously been adapted into a hit video game franchise.

The eight-episode Netflix adaptation of the bestselling medieval fantasy book series by Polish author Andrzej Sapkowski centers on the protagonist Geralt of Rivia, a monster hunter known as a "Witcher" who travels the countryside slaying terrifying beasts.

Henry was last on the big screen in this summer's blockbuster Mission Impossible: Fallout, alongside Tom Cruise.