The 'Careless Whisper' singer - who releases his new single 'White Light' on June 29 - is to get back together with Andrew Ridgeley for a special show to mark 30 years since the duo initially got together.
A source told the Daily Mirror newspaper: ''George and Andrew have often said their 'Club Tropicana' days are well behind them.
''But seeing as their anniversary coincides with George releasing new material, it's one of those 'now or never' moments.
''They probably won't do a long tour or release new material like Take That but they do want to commemorate the event with a big gig ... And an even bigger party afterwards!
''Things are still in the early stages but everybody is getting really excited about it.''
Wham!'s first release was 'Wham! Rap (Enjoy What you Do)' in 1982, which was one of a string of hits the group which included 'Young Guns (Go for It!)', 'Wake Me Up Before You Go-Go' and 'Last Christmas'.
The pair went their separate ways in 1986, with Andrew, 49, settling into a quiet life and shunning publicity, while George, 48, went on to become one of the biggest selling British solo artists of the 80s and 90s.
He said yesterday: ''On June 29 it will be 30 years to the day that 'Wham! Rap', our first single, entered the charts.
''To celebrate, I'm releasing my new song. I dreamed of a career as a singer/songwriter from an early age but never could I have known I'd still be here 30 years later, with much more music to give.''