The French President reportedly believes a cliff-edge exit would 'break links and poison relations' between EU countries.
Mr Macron's vision for Europe would involve 'concentric circles' with eurozone nations in the inner ring and Britain in a second, The Times reports.
It came after the EU's chief negotiator Michel Barnier promised a 'partnership with Britain such as has never been with any other third country', sending the value of the pound on financial markets.
Diplomatic sources apparently said Mr Macron would use a summit in Austria next month to say that a hard Brexit would endanger European ties and his model for various 'circles' in Europe.
What is in Theresa May's Brexit blueprint?
These are some of the key features of the Chequers plan being pushed by the UK government:
A new free trade area in goods, based on a 'common rulebook' of EU regulations necessary. This will require the UK to commit by treaty to match EU rules
'Mobility' rules which will end automatic freedom of movement, but still allow UK and EU citizens to travel without visas for tourism and temporary work. It will also enable businesses to move staff between countries.
Continued UK participation in and funding of European agencies covering areas like chemicals, aviation safety and medicines
A 'facilitated customs arrangement', removing the need for customs checks at UK-EU ports. It would allow differing UK and EU tariffs on goods from elsewhere in the world to be paid at the border, removing the need for rebates in the vast majority of cases. In theory this allows Britain to sign trade deals.
Keeping services - such as banking or legal support - outside of the common rule book, meaning the UK is completely free to set its own regulations. It accepts it will mean less trade in services between the UK and EU.
Continued co-operation on energy and transport, a 'common rulebook' on state aid and commitments to maintain high standards of environmental and workplace protections.
A security deal allowing continued UK participation in Europol and Eurojust, 'co-ordination' of UK and EU policies on foreign affairs, defence and development.
Continued use of the EHIC health insurance card.
A source said: 'He sees a no-deal scenario as something that would break links and poison relations at a time when Europe needs to be united beyond the EU.'
At a meeting on Mr Macron's holiday resort earlier this month the PM said Brussels faced a choice of a 'Chequers deal or no deal', but the president said he stood firmly behind the EU's negotiators.
Cabinet minister David Lidington earlier made the same argument to a French business conference.
Speaking to France's largest employer federation Mr Lidington said: 'We face the choice between the pragmatic proposals we are discussing now with the European Commission or no deal.
'The alternative models do not meet the level of ambition or the outcome we all want to see delivered.
'So we need the EU to engage with us on our positive vision of the future relationship.'
Brexit minister Dominic Raab said he had quickly established a 'good professional and personal rapport' with the EU's chief negotiator Michel Barnier.
Addressing peers, Mr Raab said he would be in Brussels tomorrow ahead of meetings on Friday, adding: 'I'm confident that a deal is within our sights.
'We're bringing ambition, pragmatism, energy and if, and I expect it will be, and if it is matched, we get a deal.'
Mr Barnier told reporters in Berlin: 'We are prepared to offer Britain a partnership such as there never has been with any other third country.'
However the Brussels negotiator still insisted Britain cannot have an 'a la carte' choice of benefits from the EU single market.
Brexiteers welcomed his 'more optimistic tone' but warned that actions speak louder and urged the EU to get on with coming up with a new offer.
A Government spokesman responded to the comments, saying: 'Both the UK and the EU are committed to reaching the best deal possible for both sides.
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