European Space Agency (ESA) director Johann-Dietrich Wörner said a decision regarding a new mission would be taken on Monday, reports Videnskab.dk.
ESA's leader has previously stated that it would consider Mogensen for a second trip after the success of his first mission in 2015.
Wörner said following that mission that the Dane's role as a 'space ambassador' would be evaluated.
The ESA director said that the final decision was also dependent upon the whether the International Space Station, including the United States, approves Mogensen for a second mission.
Speaking to Videnskab.dk during a conference in Copenhagen, Wörner said the final decision would be taken next week.
"We do not yet know, but it will be decided on Monday," he told the Danish science media.
An announcement would follow that decision at a later date, he added.
Mogensen became the first Dane to travel to space in September 2015, when he spent ten days at the International Space Station.
The Danish astronaut has on several occasions confirmed he would like to take another trip into space.
READ ALSO: Denmark's first astronaut back on Earth