Matt Canavan would not confirm his switch to the seat of Capricornia, vacated by MP Michelle Landry, who on Friday announced she will not recontest the northern Queensland seat she has held since 2013.
But speculation has been rife that Ms Landry's resignation would allow Senator Canavan, who lives in Yeppoon, to resign from the upper house and make a bid for the lower house seat, which the LNP holds on a 5.8 per cent margin.
Ms Landry said she will step aside at the next election, due in 2028, over "enormous" travel requirements and a wish to spend more time with her family.
Senator Canavan has previously expressed that he would do what it takes to keep a strong coalition presence in the region despite the prospect of a One Nation wipe-out.
Speaking on Friday, Senator Canavan downplayed the speculation about a potential move to the House of Representatives.
"There's plenty of time for the LNP to work this out as a party," he told reporters in Rockhampton.
"We also, of course, unlike some other parties, we respect our members. So ultimately, it is a decision of our membership, who they want to represent them at the next election."
He holds the second spot on the coalition's state Senate ticket, behind Liberal James McGrath. It means he risks losing his seat if One Nation do well in the upper house next election.
Senator Canavan won the second of the two Queensland Senate seats the LNP won six years ago.
But One Nation - previously considered a minor party - is surging drastically in the polls and could conceivably outpoll the LNP, relegating them to one Senate seat in the Sunshine State.
Pauline Hanson's party announced it would open a branch in Yeppoon late last year to "help shape the future of One Nation in the region", its website reads.
Senator Canavan said his colleague had delivered "time and time again", calling it an "absolute privilege" to serve alongside her.
"Michelle gets into more fights than Mike Tyson down there in Canberra," he said, adding that her "victories" were a result of hard work.
Ms Landry said making the Rockhampton Airport and international airport was a matter of "high priority", as was a second hospital.
"I will continue to work hard right up to the end," she said.
