Apple is expected to send out press invitations to an iPad mini reveal event on Wednesday October 10, then hold said event a week later before possibly launching the new tablet on November 2.
The rumour originates from a person described as "a major Apple investor", who told Fortune he'd heard it from multiple sources.
An October iPad mini release date has previously been widely rumoured.
Bloomberg sources claimed in August that the device will feature a 7.85 inch display from AU Optronics and LG.
Alleged iPad mini photos were published online last month.