A meeting of representatives from both chambers of parliament is to open at 11:00 am (0200 GMT), where the government is supposed to present the nomination, the official said.
Prime Minister Yasuo Fukuda confirmed his government would make a new proposal Tuesday, local media reported.
"Yes, I will," Fukuda said when asked whether he would be able to submit a new nomination, according to Jiji Press news agency.
Fukuda did not say who the new candidate would be but Jiji Press quoted an anonymous government official as saying the government believed the person "will get a nod" from the main opposition Democratic Party of Japan.
Japan's main political parties were deadlocked on who will lead the central Bank of Japan (BoJ) at a time of global market turmoil with current governor Toshihiko Fukui's five-year term se