The 64-year-old reportedly met with a Beverly Hills plastic surgeon on Thursday for a consultation regarding the procedure, known as chondrolaryngoplasty (or tracheal shave), reports TMZ.
The operation reduces the size of the cartilage in the neck, and is typically performed on patients in the initial stages of gender reassignment surgery.
But the Olympic gold medalist denied he is transitioning from male to female.
'I just never liked my trachea,' he told TMZ. He later clarified that his initial reason for seeing the surgeon was due to a 'large scar' on his nose that hadn't healed after a cancerous growth was removed in September.
According to the website, he wanted to improve the appearance of the scar, and said while he was there he happened to inquire about reducing his Adam's Apple.
The surgery has been scheduled for early next year, reports TMZ, although Bruce told the website a date has not yet been set.
Bruce has been dogged by rumours for years that he is a secret cross-dresser.
Robert Kardashian's widow claimed last year that Bruce's first wife Chrystie Crownover told her the reality star had a penchant for wearing women's clothing, shoes and lingerie.
'Of course Bruce was every woman’s heartthrob when he was that age, right?' Ellen told Star Magazine.
He went on to wed Linda Thompson shortly after and they had two sons together during their four year marriage - Brandon and Brody.
But third wife Kris apparently had no qualms about Bruce's penchant for cross-dressing, according to Ellen.
She claims the Kardashian-Jenner matriarch was unfazed by his odd habit and that he continued to cross-dress for years after their 1991 wedding.
'Khloe called her dad and she was very upset, crying and screaming about it,' Ellen said.
Meanwhile, Bruce dons feminine attire in the upcoming film The Hungover Games, which spoofs recent blockbusters.
Bruce plays one of two announcers who provide commentary during a televised fight to the death.