It would see two regular-season games in the 2007 season played at the cricket venue, the first time matches would have been played in Europe.
According to the UK's Times newspapers, a 10-day period in late March and early April 2007 has been provisionally set aside for an exhibition match followed by two official games.
The Boston Red Sox and the Atlanta Braves are said to have expressed interest.
Baseball will lose its Olympic status after 2008, although next March will see the first World Baseball Classic, a 16-team world cup.
The Oval's capacity was recently increased to 23,000 and the ground has floodlights, which may be needed to accommodate US television coverage.
