Turkey's state-run news agency says authorities have agreed "in principle" for Istanbul to return to the Formula One calendar in 2013.
The Anadolu Agency reported on Thursday that Vural Ak, chief of the Istanbul Park circuit, said an agreement has been reached with Formula One boss Bernie Ecclestone, though a final decision rests with Turkey's government.
Turkey joined the F1 calendar in 2005, but was dropped in 2012 following a disagreement with Ecclestone over the fee to stage the race.
Turkish media say Istanbul is likely to fill the July 21 spot that was left vacant on the calendar after the removal of the Grand Prix of America.
The Istanbul Park's testing circuit was popular with many of the drivers.