DiCaprio is in Fort McMurray for a few days to tour the oilsands for an environmental documentary he is working on, a source who did not want to be named told CBC News.
The source said DiCaprio wanted to see the oil sands first-hand and learn more about their impact.
The Oscar-nominated star of The Wolf of Wall Street has a long history of environmental activism.
He currently serves on the board of the World Wildlife Fund and Natural Resources Defence Council and started his own environmental charity foundation in 1998. He also lent his voice to a documentary called Carbon, which was released online Wednesday.
DiCaprio isn't the first high-profile visitor to check out the oilsands development in Fort McMurray.
Archbishop Desmond Tutu, who won the Nobel Peace Prize for his role in the fight against apartheid, met with First Nations representatives in Fort McMurray in May.
Neil Young has been an outspoken opponent to the oilsands, and has raised money for a First Nation fighting expansion in northern Alberta. James Cameron also toured in the oilsands in 2010, saying they need more regulation.