No official statement has been released, but it is understood that an ongoing shoulder injury suffered by the former world champion is the main reason for the discussions about his potential retirement.
The 30-year-old has been in poor form of late and crashed out in the first round at last week's China Masters, losing 21-11, 21-10 to Singapore's Loh Kean Yew.
He also failed to defend his men's singles world title following a first-round exit in New Delhi last month against India's Ayush Shetty.
Shi Yu Qi, who is currently sixth in the world, has won 15 Badminton World Federation (BWF) World Tour titles, with the China Open last year marking his last victory.
He was also a key player for China in winning the Sudirman Cup, Thomas Cup, and Asian Championships. Despite his success, he is yet to win an Olympic gold medal and has yet to reach a final at the Games.
For now, it remains uncertain whether he will be present at the 2028 Los Angeles Olympics.