Srettha Thavisin, president and chief executive of real estate developer Sansiri Plc, could be the main opposition Pheu Thai Party's prime ministerial candidate in the next election, a party source said.
But the source said another potential candidate is Paetongtarn Shinawatra, head of Pheu Thai's inclusion and innovation advisory committee, who is also the youngest daughter of former premier Thaksin.
Under the constitution, each political party can name up to three candidates for prime minister.
Ms Paetongtarn is a popular prime minister candidate among voters in the northeastern region, according to a recent Nida poll.
The source said party executives agree that Mr Srettha has what it takes to be PM and lead efforts to rebuild the country post-Covid-19. He is knowledgeable about economics and he also understands the kingdom's social issues, the source said.
The party is currently approaching him about the prime ministerial candidate role, the source said.
The source said that it is being speculated that Prime Minister Prayut Chan-o-cha may dissolve the House of Representatives and call a general election after the conclusion of the Asia-Pacific Economic Cooperation (Apec) summit which will be held in Bangkok next month. The House of Representatives' four-year tenure will end in March next year.
Asked about the possibility of Mr Srettha becoming a Pheu Thai PM candidate, Ms Paetongtarn said anyone capable and ready to serve the interests of the people should be given a chance.
"The country and people must come first. Anyone who is capable and willing to work for people is a boon to the country. Pheu Thai is ready to support them," she said.
Pheu Thai secretary-general Prasert Chanthararuangthong said that the party's executive board is considering potential prime ministerial candidates and they will be revealed shortly.