According to RTÉ News, Francesco Schettino faces charges of manslaughter and causing the loss of his ship after the Costa Concordia ran around in shallow waters off Isola del Giglio on the night of 13 January 2012.
Some 32 people died in the ensuing disaster, and more than 4,000 passengers and crew - including an Irish couple - were hurriedly evacuated from the vessel.
A lawyer for Schettino, whose trial began on 9 July, told the press that he would offer to plead guilty in exchange for a sentence of three years and five months - following the rejection of a previous offer of three years and four months.
His legal team argue that he was not solely to blame for the disaster, and point to plea deals made by five others officials with liner operator Costa Cruises, which also agreed to pay a €1 million fine to settle criminal charges.
However, the prosecution has blasted Schettino's plea bargain proposal as "absolutely inadequate".
The crew of the Costa Concordia was last year presented with the prestigious Lloyd's Lost Seafarer of the Year award for their "courage and professionalism" in response to the disaster.