Last held on an ageing circuit in Buenos Aires in 1998, plans to revive the Argentine grand prix emerged two years ago.
"We are always open to doing something in Argentina," F1 chief executive Bernie Ecclestone had said. "When we meet some serious people it will happen."
Last weekend, MotoGP riders raced at the Autodromo Termas de Rio Hondo, an overhauled facility that now also hosts Formula Renault and world touring cars.
On the sidelines of the new MotoGP race, Argentine tourism minister Enrique Meyer revealed the government's ambition to also return to the F1 calendar.
"This (F1) is an event we hosted for many years," he is quoted by France's L'Equipe. "But at some point, we could not continue for economic reasons.
"Rio Hondo has the features to be registered to receive F1," said Meyer. "We believe that a country that loves motor sport must have prestigious events."
L'Equipe said Meyer confirmed that, for the F1 bid, additional investments will be made to improve roads, airports and hotels in the area, in the province of Santiago del Estero.