Streisand is lined up to play a series of gigs at the Millennium Dome, now called The O2 Venue in July, with tickets expected to be priced at an astounding 200 pounds a time.
The ‘Way We Were’ singer has rarely performed since her 1998 marriage to actor James Brolin, but staged a long-awaited comeback to the US stage last year.
"She is being lined up for three nights at the dome - it will be worth millions and the tickets will sell out immediately,” the Daily Mail quoted a source, as saying.
However, Streisand's return to UK shores this summer will apparently create numerous problems for the organisers and the staff.
The legendary singer has troubled the organisers in the past with her diva tantrums.
When she appeared in Philadelphia to re-launch her live career in September last year, she insisted on a police dog unit checking the auditorium before her sound check and ordered to place metal detectors at every door.
Streisand, who has recorded over 60 albums and her group, required five fabric covered living room sets with no vinyl, ten floor lamps "Torchierre style", 35 folding banquet tables and 150 folding chairs.
There was also detailed information about the number and type of locks on the doors, while organisers at the venue were warned that her production team would also need 120 bath sized towels "immediately upon arrival".
Streisand even has her own requirements for the security, with plain clothed guards to be "neatly dressed in dark jackets, blazers or sweaters".