Spanish press reported that the PM is scheduled to fly out to the Canary Island on March 24th on budget airline Ryanair.
Cameron visited Lanzarote, where his in-laws have a holiday home, during the Easter holidays in 2014 with his wife Sam and their three children, Nancy, Arthur and Florence.
David and Samantha Cameron in Mallorca in August 2012. Photo: AFP
Spain is a firm favourite with the Cameron family and they have made trips to Mallorca, Ibiza and Lanzarote since the PM took office in 2010 as well as a weekend getaway to Granada to celebrate Samantha's 40th birthday in April, 2011.
David and Samantha Cameron in Granada in April 2011. Photo: AFP
Last time the Camerons came to Lanzarote, an island off the west African coast famed for its volcanic black sand beaches, the family stayed in a rural hotel Casa Tomarén, a restored villa dating from the 18th century which offers yoga retreats.
But sources told El Mundo that this time the family would be staying in a hotel in the popular resort of Playa Blanca in the Yaiza district.
Downing Street refused to confirm the Prime Minister's plans.
"We wouldn't outline the Prime Minister's travel plans so far in advance," a spokesman at Number 10 told The Local. "Arrangements are made public in the normal way at the beginning of the week."
On the last visit to the island, David Cameron took to the waves with a surfboard. But it wasn't all fun in the sun. The Prime Minister suffered a painful jellyfish sting while swimming off the popular Arrieta beach.
Fellow holidaymakers described how they saw him running from the water rubbing his arm and screeching "Ouch! Ouch! Ouch!".