Chief Cabinet Secretary Osamu Fujimura told a news conference that the measure would remedy the supply chain disruptions caused by the floods.
Fujimura said the government was considering accepting several thousand Thai workers from some 30 companies for about six months.
Among the conditions Tokyo is to impose on the firms is to make sure that the Thai workers return to their home country after that period, the Kyodo News agency said.
The announcement came as the ongoing floods have forced a number of Japanese manufacturers, including Toyota Motor Corp, to halt their local operations.