The Sun reports that the 36-year-old was on the shortlist to star in the 25th Bond movie. Ilfenesh Hadera, who starred in Baywatch and has worked with Spike Lee, was also on the shortlist.
A source told The Sun that Markle "fit the role of a Bond girl perfectly" because "she's glamorous and sexy and a good actress."
"The role more recently has gone to actresses deemed to be rising stars, and Meghan certainly was seen as that before her relationship with Harry became public," the source continued. "The brief was to find a glamorous rising star, specifically someone American or Canadian."
The source said Markle was on a list with four other actresses created last year. But after the producers heard about her relationship with Harry, they decided to focus on the other actresses.
“Her engagement effectively spelt an end to her acting career too so that was the final blow," the source told The Sun.
Kensington Palace said Markle plans to end her acting career to focus on charity work after her marriage to Harry.
Markle starred on USA Network's Suits as Rachel Zane for seven seasons. Her other credits included Anti-Social, Horrible Bosses and Remember Me.
The next Bond movie doesn't have a release date, but it is expected to be Daniel Craig's last as 007. Barbara Broccoli, who produces the films with Michael G. Wilson, said she plans on announcing news about the film in 2018. The film also doesn't have a writer or director.