A report by Apple Insider claims the monitor will be available in June and is believed to be targeted at professional customers.
Since the success of Apple's 27-inch all-in-one desktop, the iMac, the company is now said to be looking at a more affordable option to bring into the market.
According to the report, it has waited for the price of LCD panels to decrease before looking to market the LED display, which shares similarities to the 24-inch model released two years ago.
The new release is expected to be accompanied by a substantial update to Apple's Mac Pro desktop computers.
Apple has already, this year, unveiled the iPad which uses an LED-backlit screen in its design. The iPad is looking to dominate what it believes is a gap in the market between smartphones and laptops.
The company's boss, Steve Jobs, ridiculed the usefulness of netbooks which he believed could not do anything worthwhile for users.
