Lawmakers from the ruling party in Uganda have agreed to introduce a law the removes an age limit from the country's constitution, potentially allowing him to extend his rule, two lawmakers told Reuters.
Seventy three year old Yoweri Museveni is already one of Africa's longest-serving rulers and has been in charge for more than three decades.
The next elections are due in 2021.
Oil-rich Uganda is a staunch Western ally and receives substantial aid and support for its security forces, partly for sending troops to Somalia as part of an African Union peacekeeping mission.
When he first came to power, Museveni was lauded for helping restore stability after two murderous dictators known to use torture and extrajudicial executions widely, and for directing the suppression of a brutal insurgency known for mutilating civilians and kidnapping children.
But over the years, criticism has mounted over the suppression of the political opposition, widespread corruption and a poor human rights record.