The 30-year-old Briton finished second at the 2014 race behind Tinkoff-Saxo leader Alberto Contador after both had left the Tour de France early owing to injury.
"I would say it’s a bit early to say 100 per cent but I think that could potentially be on the cards, certainly," Froome said after arriving back in London overnight.
"I know it would be a massive challenge to back it up with another grand tour now, especially to go there with the aim of going for the general classification again.
"But yeah, that’s at the back of the mind and maybe that could be on the cards."
La Vuelta begins in Puerto Banus on 22 August, leaving Froome little time to make up his mind. Froome was also a runner-up in 2011 and finished fourth in 2012.
Froome was forced to work harder than ever before to win his second Tour de France yesterday, beating Movistar’s Nairo Quintana by 1min 12sec after some thrilling closing stages through the French Alps.
He admitted the magnitude of what he’d achieved was still sinking in having become the first Briton to win the race twice.
"The last 48 hours just feels like it's been a bit of a blur. Getting into Paris is something we've been focused on for so long. This morning we woke up and I said, 'What are we going to do this morning?' We're there now'. It's just such an amazing feeling,” he said.
"It’s not only just the Tour, it’s the whole build-up to it. We spend months and months just doing every little thing right and getting every little detail right to try to get to the Tour in the best shape possible.
"It’s going to be great now just to switch off for a few days. I just had a bacon butty this morning and it felt fantastic just to have something I haven’t had in many months."