Connacht-Ulster MEP, Mr Pat The Cope Gallagher, is expected to announce shortly that he intends to be a candidate in next year's general election.
The announcement will be a boost for Fianna Fβil who believe he will have a strong chance of winning back a seat for the party in Donegal South-West.
Mr Gallagher told The Irish Times that he would be "coming to a decision" over the Christmas period. However it is understood that he intends fighting for the seat which was taken by the Independent TD, Mr Thomas Gildea, at the last election.
The former Minister of State, who has been an MEP since 1994, would be expected to top the poll in the three-seater constituency, giving Fianna Fβil a chance of taking two seats. The seats are currently held by Ms Mary Coughlan of Fianna Fβil, Mr Danny McGinley of Fine Gael, and Mr Gildea.
Earlier this year Mr Gallagher denied that he was looking for a deal that, in return for him winning a seat, he would be guaranteed a Cabinet position if Fianna Fβil was returned to power.
The constituency selection convention, one of five remaining for Fianna Fβil, was due to be held in October. It is now expected to take place by the end of January.
Mr Gallagher formerly held two different minister of state posts. In the past, he topped the poll with enough extra votes to help Ms Coughlan get elected. The decision to appoint her Minister of State for Arts, Heritage, Gaeltacht and the Islands in February was due in part to the need to bolster the Fianna Fβil vote.
At the last general election, Ms Coughlan topped the poll with 6,597 first preference votes while the other Fianna Fβil candidate, Sen Enda Bonner, received 5,742 first preferences.
However, with 38 per cent of the vote, they could not prevent Mr Gildea's election, and Fianna Fβil will need to increase their share of the vote by about 5 percentage points to retake the second seat.
Fine Gael is running two candidates in the constituency - the sitting TD, Mr Dinny McGinley, and former, TD Mr Jim White.
One of the other constituencies which has not held a selection convention is the Taoiseach's constituency of Dublin Central. The delay has been caused by the failure to choose between two possible running mates for Mr Ahern - Cllr Royston Brady and Sen Dermot Fitzpatrick..
The selection convention for Wexford is scheduled for January 13th, and there is speculation that Mr Noel Whelan, a barrister and former political organiser, may put himself forward. There is also speculation surrounding the possible candidacy of former Wexford hurling manager, Mr Tony Dempsey.
The other two remaining constituencies which have still to hold conventions are Dublin North and Tipperary South.