Jones will succeed Graydon Carter, who announced in September that he would be stepping down after 25 years at the publication.
Condé Nast, which publishes Vanity Fair, had no comment for the Times, but it is reported that the announcement may be made as soon as Monday.
Jones would be the first female editor of Vanity Fair since Tina Brown served as the magazine’s editor from 1984 until 1992.
Robert Sauerberg, the chief executive of Condé Nast, and Anna Wintour, the editor-in-chief of Vogue and Condé Nast’s artistic director, oversaw the search for a replacement that was kicked off by Carter’s announcement. David Remnick, the editor of The New Yorker, also played a significant role in selecting Carter’s successor.
Though Jones is a well-known figure in the New York literary world, she is relatively unknown in Hollywood. She was previously the deputy managing editor at Time magazine where she oversaw the Time 100 issue. She has also worked at the Paris Review, where she was a managing editor. She holds degrees from Harvard College and Columbia University.