The 30-year-old Russian last won the Birmingham event in 2005 but her most recent appearance was in 2010.
"We are in the process of deciding which players will receive wild cards for our summer season grass-court tournaments," an LTA spokesman told the Times.
The five-time grand slam winner Sharapova reached the Stuttgart Grand Prix semi-finals last month in her first tournament since being banned but lost 7-5 2-6 6-4 to Canadian Eugenie Bouchard in the second round of the Madrid Open on Monday.
The tournament is scheduled from June 17-25 at the Edgbaston Priory Club ahead of the Wimbledon, starting on July 3.
Sharapova's hopes of featuring in this year's Wimbledon could hinge on a June 20 meeting of tournament organisers unless the Russian finds form in the forthcoming event in Rome.
(Reporting by Hardik Vyas in Bengaluru; editing by Sudipto Ganguly)
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