It is believed that the model, who came to fame in the 1990s, will be representing Yves Saint Laurent for their summer 2009 campaign.
During a party in London organised by Van Cleef & Arpels, Schiffer told Vogue that she will be working on several publicity campaigns, including YSL.
The blonde beauty was photographed last month in Los Angeles by Inez van Lamsweerde and Vinoodh Matadib.
Yves Saint Laurent has not yet confirmed that they are working with Schiffer. Naomi Campbell represented the brand for the fall-winter/2008-2009 campaign.