The AFP news agency said the governing party’s Executive Director Adama Bictogo said they are considering all available options.
"All options are on the table, including a new candidacy for President Ouattara."
Ivory Coast is currently beginning eight days of national mourning for the prime minister who died after falling ill at a cabinet meeting.
Amadou Gon Coulibaly was the presidential candidate for the governing RDHP party in October's presidential election.
Mr Ouattara decided not to contest for a third term which saw many Ivorians praise him.
However, with the sudden death of the Prime Minister, analysts have predicted that it will be difficult for the party to find a candidate of the same stature as the popular prime minister.
They argue that Mr Ouattara may have to rescind his decision and contest for the presidency again, even though that may lead to accusations of abuse of democracy.
Mr Outtara came into power in 2011.
This was after his predecessor, Laurent Gbagbo, was ousted from office following his refusal to accept Mr Ouattara's internationally recognised victory in the previous year's elections.