US President Donald Trump would serve as its inaugural chairman and each member state shall serve a term of no more than three years from this charter's entry into force, subject to renewal by the chairman, the report said.
Reuters could not immediately verify the report.
The White House called the report "misleading" and said there is no minimum membership fee to join the "Board of Peace".
"This simply offers permanent membership to partner countries who demonstrate deep commitment to peace, security, and prosperity," the White House said in a social media post on X.
The US State Department responded to Reuters' question on the matter by referring to previous social media posts about the board by Trump and his special envoy Steve Witkoff, which did not mention the number.
Leaders from several countries on Saturday received a letter inviting them to join a so-called US-led "Board of Peace" initiative that would initially aim to end conflict in Gaza but then be expanded to tackle conflicts elsewhere, diplomats said.
The White House on Friday announced some members of this board, including US Secretary of State Marco Rubio, Witkoff, former British prime minister Tony Blair and Trump's son-in-law, Jared Kushner.
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