The information was revealed by Williams co-owner Toto Wolff during an interview with Austrian newspaper Kronen Zeitung.
He is reported by Sky Sports as saying: "The story is not for show, we are negotiating seriously, but he is only one of several options. There will be a strategic decision."
Other drivers Williams is looking at are believed to be Ferrari protege Jules Bianchi, another aggressive driver just like Raikkonen, as well as current Williams reserve driver Valtteri Bottas.
Raikkonen left F1 at the end of 2009 to start competing in the World Rally Championship with Citroen the following year, though he hasn’t had much success. He’s also dabbled in the world of NASCAR, including racing for Kyle Busch Motorsports in the Camping World Truck Series earlier this year.
The only issue is Raikkonen’s age relative to the other drivers, and the fact that things can change dramatically in the world of F1 in a very short time. One only need look at seven-time world champion Michael Schumacher who has struggled in his Mercedes GP after coming back after just a three year hiatus.
On the other hand, it’s no secret that Williams’ current drivers Rubens Barrichello and Pastor Maldonado have failed to live up to the teams overall expectations this season.
Stay tuned for an update.