Chonlanan Srikaew, a Pheu Thai MP for Nan, has expressed his readiness to lead the party if elected.
Dr Chonlanan was commenting on the TV programme, Inside Thailand, after he was asked if he was ready to take on the role of party leader.
A source in Pheu Thai said the party's general assembly in Khon Kaen on Thursday might select a new leader since the current leader Sompong Amornvivat plans to resign.
Dr Chonlanan is seen as the prime candidate for the party leadership, especially due to his ability to communicate with younger generations and for his high approval rating among young voters.
Previously, Sutin Klungsang, chief opposition whip and party MP for Maha Sarakham, was supported by northeastern MPs for the leadership position, but now many major members of the party believe Dr Chonlanan may be more suitable due to his aptitude for politics.
Apart from possibly selecting a new leader, the party's general assembly will select four party members for the positions of deputy leaders and executives, and will discuss changing the party's logo.
Surapong Suebwonglee, one of the founders of Creative, Action, Revival and People Empowerment (Care), will also replace Tanusak Lek-uthai in the role of an executive.
The party will wait until the dissolution of parliament to announce its prime ministerial candidate.
The deputy leader of the party, Yuttapong Charasathien, said the general assembly meeting today will only select the party members for the positions of deputy leader and executives.