According to the Telegraph, a source close to the broadcaster said: "ITV is trying to get its content onto every platform and having ITV Player, its 30-day catch up service, available on the key smartphone devices, is an incredibly important part of the broadcaster’s digital strategy".
The Telegraph newspaper lost its CIO Paul Cheesbrough to rivals News International, the Rupert Murdoch company behind the Times and Sun newspapers and related to Sky TV.
The app is expected to be made available by September. However, it will not be free.
"There will be a one-off payment for the app, and the app will be populated on a daily basis with new content which will be continually supported by advertising," the source added.
However, in March, the BBC Trust put new the apps on hold over fears they could undermine commercial rivals.
ITV said it was "considering options" that would ensure its viewers could watch content "on a range of platforms to suit their lifestyles".
"We want to make our content available when and where consumers want to watch it."