Fury had been expected to sign a mouth-watering heavyweight title unification bout against the Ukrainian, which was slated to take place at Wembley at the end of April.
However, talks have recently broken down, with reports suggesting Fury's demands were repeatedly changed much to the chagrin of Usyk's representatives, who ultimately walked away from a deal.
It re-opens the door to a 'battle of Britain' clash between AJ and 'The Gipsy King', who came close to sealing an agreement late last year before talks also broke down in remarkably similar fashion.
Speaking to Tony Bellew on the DAZN Boxing Show, the Matchroom promoter said he believes fresh talks between the pair could at last lead to something concrete being signed.
"If this fight (Fury v Usyk) doesn't get made, I want to sit down with George Warren, and God willing AJ comes through against Jermaine Franklin, and makes it through that fight," Hearn said.
"AJ against Tyson Fury, why not?
"It's financially a much bigger fight for Tyson Fury. It's the biggest fight in world boxing by miles.
"If that fight doesn't get made, I'll be kicking and screaming for this.
"Sometimes things happen that let fights you never thought would happen, to happen. Maybe this is one of those moments."
Joshua is currently living in the United States in preparation for his April 1st fight with American Jermaine Franklin. The London-born former Olympian is coming off the back of consecutive losses to current WBA, IBF, WBO and Ring magazine heavyweight champion Usyk.
A bout between the two leading names - with the WBC heavyweight championship on the line - would undoubtedly go down as the biggest event British boxing has ever seen, let alone one of the biggest moments in the nation's sporting history as a whole.
