Car and Driver cites a "source at Lexus", claiming the Japanese luxury marque will reveal the LC F at this year's Tokyo motor show in October.
At the heart of the performance coupe will reportedly be a twin-turbocharged 4.0-litre V8 - essentially two 2.0-litre mills joined at 90 degrees - pumping out a meaty 447kW of power and around 637Nm of torque. The new V8 is also reported to feature in the next GS F sedan, though with slightly lower outputs.
Shifting gears will be the company's new 10-speed automatic transmission, which made its debut with the LC500.
The report claims the LC F will feature a bespoke bodykit, including bonnet vents, air ducts for brake cooling, a fixed rear wing, an aggressive front splitter along with side and rear air vents.
Filling the arches will be new 20-inch alloy wheels, along with six-piston brake calipers for extra stopping power.
In the US, the LC500 starts at US$92,995 ($121,061), with Car and Driver forecasting the LC F to kick off for around US$180,000 ($234,324).
Considering the premium Australians pay for high-end vehicles, don't be surprised if the LC F starts from around $300,000. Final pricing and specifications for regular LC models are still to be confirmed locally, however, so stay tuned to CarAdvice for more updates in the coming months.
Rumours have been flying around about an LC F since the company trademarked the name earlier this month.
In addition to the hi-po LC, a convertible version is also said to be in the works - potentially ahead of the LC F - according to a report last December by industry journal Automotive News.