The Queen has missed Royal Ascot once in her 69-year reign, after coronavirus put the major summer event behind closed doors.
At the 2020 meeting, Her Majesty celebrated her first success there in four years, when Tactical took the Windsor Castle Stakes.
Twelve months on and the same horse holds an entry in the St James's Palace Stakes on Tuesday, the opening day of the top fixture.
The Queen's colours could also be carried by King's Lynn on Saturday, June 19, favourite with bookmakers for the Wokingham Stakes.
The Times reports that she is expected to be in attendance if they compete at the meeting, which offers more than £6 million in prize money.
Ahead of declarations for the races, final plans are yet to be confirmed.
An spokesperson for Ascot Racecourse said: "A decision regarding The Queen’s attendance will be made by Buckingham Palace closer to the meeting."
It is understood that the royal procession, usually a big feature of the week, is on hold this year.
The 95-year-old reigning monarch missed the Derby last Saturday, for just the fourth time ever.
Around 4,000 racegoers were in attendance at Epsom, however Ascot have clearance for a bigger crowd in accordance with Covid-19 rules.
Up to 12,000 fans will be permitted through the turnstiles – and when tickets were on sale, they were all quickly snapped up.
Ascot is one of the sporting events trialling a Government pilot scheme ahead of the final easing of coronavirus restrictions, currently planned for June 21.
The Royal Enclosure will be one of the areas open for guests, by invitation only.
It was created for the running of the inaugural Gold Cup in 1807 and was exclusively reserved for the family, guests and Household of King George III.
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