Dustin Hoffman, Robert De Niro and Harvey Keitel were among the other favourites to play the politician, whose sentence for tax fraud was upheld by a Rome court on Thursday.
Even though “his body is a bit over the top”, Arnold Schwarzenegger was given odds at 10/1, Paddy Power said.
Schwarzenegger was followed by Al Pacino, Anthony Hopkins and Tom Hanks.
The odds rise to 17 for Sean Connery and to 67 if Berlusconi is picked to play himself in the hypothetical biopic.
However, the steepest odds, at 150, are offered for the action film star, Jackie Chan.
Which actor do you think should play Berlusconi? Let us know in the comments section below.