The unbeaten 24-year-old is a rising star in the 168lb division although would be seen as an easy option for Froch following a succession of title fights against the very best.
Froch, who has already lined up rematches with Lucien Bute and Mikkel Kessler in 2013, has been approached by Oosthuizen's promoters with view to taking up a voluntary defence later this year.
An October return seems likely for the Nottingham bomber, who looks set to go on the road again following his sensational homecoming fight against Bute in May.
But South African Oosthuizen will be no pushover. The 6ft 4in 24-year-old has 20 wins and a draw on his resume and defended his IBO strap on Friday, winning a unanimous decision against Rowland Bryant in New York.
Other possible opponents thought to be in the mix included Kelly Pavlik, although efforts to bring the American to the UK appear to have foundered.
Meanwhile, Belfast veteran Brian Magee is set for another shot at a world title after the WBA stripped 'regular' champion Karoly Balzsay for not fulfilling his mandatory against Magee.
Thus, the 37-year-old can now choose his opponent when he fights for the title later this year.