The deal is expected to mark the launch of version 2.0 of Adobe's Acrobat eBook Reader software. Anonymous sources also claim the companies will announce the first Mac version of eBook reader, though this is reputed to be a beta release.
The application is expected to be exclusively available for download only from Adobe and Barnes and Noble's Web sites.
The software lets users download e-books to read on a computers. The Wall Street Journal reports that version 2.0 also permits users to enjoy two-page displays and offers clearer text.
Adobe and Barnes and Noble sources refused to comment on the news. Adobe said: "This announcement will be made at 8 O'Clock, Eastern (US) Time. We cannot comment until then."