India captain Anil Kumble said his side were keeping their line-up a secret until the match started at the Sydney Cricket Ground on Wednesday but admitted Sehwag was under consideration.
"We'll still think about it, we have time until tomorrow morning," Kumble told a news conference on Tuesday.
"There are a few things in the mind but I don't like to share it now. We'll assess the conditions. He brings in that attacking, positive approach."
Sehwag has not played a Test in 12 months after losing form but is poised to earn a recall after the top-order failed in last week's 337-run first Test loss in Melbourne.
The 29-year-old right-hander has scored 4,155 runs, including 12 centuries, from 52 test appearances at an average of 49.46 and 846 at 49.76 against Australia, including 195 in the Melbourne Test four years ago.
Kumble said the team selectors were no longer concerned about Sehwag's form slump as he had been striking the ball well in practice.
CAREFREE ATTITIUDE
"He has looked good from whatever we've seen in the nets," Kumble said.
"In terms of his form, we're not concerned too much about. He's hitting the ball well and he's in the scheme of things. Before he lost form and was made to sit out, he was a very important member of the team. He brings in a carefree attitude to the team."
Sehwag's inclusion would allow makeshift opener Rahul Dravid to drop back to his preferred spot at number three with struggling middle order batsman Yuvraj Singh the most likely casualty.
Dravid also struggled in Melbourne but Kumble said he expected he would be much better in Sydney.
"It is just one of those things that he needed to relax. I did have a chat with him, he's aware of that," Kumble said.
"I'm sure he will be able to go out there and bat."
Kumble has urged his players to adopt a more aggressive mental attitude in Sydney after their lacklustre performance in Melbourne, which was undermined by their poor batting and comical fielding.
"It all boils down to going there and fighting. We didn't show a bit of that in the last game but we're looking to do that," he said.
"It's more to do with thinking and being a bit positive. If the mind is thinking positive, running between the wickets and fielding will be different.”