Three companies have made proposals to the Malaysian government to get the search underway again.
The flight disappeared in 2014 along with every member of of its 239-strong crew – sparking a massive search with was later halted.
Previous searches failed to turn up anything concrete as the disappearance of the Beijing flight confirmed its place as one of the world’s best known mysteries.
Speaking of the Malaysian government’s next step Malaysian Transport Minister Liow Tiong Lai said: “We have to discuss with the companies. It will take some time as it’s some detailed discussions.
“We wont be deciding anything now on whether we are embarking on a new search or not.”
Australian media has reported that the search could be back underway as soon as next week.
The decision to stop the search earlier this year was met by protests from the families of the missing passengers and crew.
The search was called off after two years and a cost of £120million in January.
London-based marine surveyor, Ocean Infinity, have said they would only wish to be paid for the search if the plane was found.
Australian authorities said they deeply regret not finding missing Malaysia Airlines Flight MH370 and the ongoing mystery is “unacceptable,” in their final report on the unsuccessful search which was published on October 3.
The Australian Transport Safety Bureau (ATSB) in the report said: “The reasons for the loss of MH370 cannot be established with certainty until the aircraft is found.
“It is almost inconceivable and certainly societally unacceptable in the modern aviation era…for a large commercial aircraft to be missing and for the world not to know with certainty what became of the aircraft and those on board.”
The disappearance of the Boeing 777 on March 8, 2014, with 239 people on board, on a flight to Beijing from the Malaysian capital of Kuala Lumpur, has become one of the world’s greatest aviation mysteries.
It is thought to have been diverted thousands of miles off course out over the southern Indian Ocean before crashing off the coast of Western Australia.