Warren Mundine is weighing up a Liberal Senate bid

Prominent indigenous businessman Warren Mundine says he's looking at launching a bid to become a Liberal senator in NSW.

Warren Mundine is considering putting his hand up for a NSW Senate seat. Source: AAP

Warren Mundine is considering throwing his hat in the ring for an upcoming Senate vacancy for the Liberals in NSW.

The failed Liberal candidate for the lower house seat of Gilmore could resurrect his hopes of becoming a federal parliamentarian, as the party hunts for a replacement for Arthur Sinodinos.

Senator Sinodinos will leave politics to be the next ambassador to Washington later this year.

Warren Mundine failed to become the Liberal member for Gilmore after being personally recruited to the seat by the Prime Minister. Source: AAP

Mr Mundine, a former Labor Party national president, is likely to go up against ex-senator and retired major-general Jim Molan in the Liberal pre-selection race.

"I'm looking at putting my hand up and we'll see what happens when the announcements come out in the next few weeks," he told 2GB on Tuesday.

"The first thing I've got to do at the moment is getting back to work and get an income coming in, otherwise the wife's up me."

Retired major-general Jim Molan has also been flagged as a potential candidate in the Liberal pre-selection race. Source: AAP

Mr Mundine praised his potential opponent, who lost his upper house seat at the election.

"Jim's a great fellow. He's an amazing person, he's a person who's served this country well and has done a great job," he said.

Former RSL NSW president James Brown, who is Malcolm Turnbull's son-in-law, has also been flagged as a potential candidate for the vacancy.