The Ethiopian, who is due to compete in the Great Ireland Run in Dublin on Sunday, has been struggling with injury.
"I'm preparing really well to do it but I don't know yet, I still have to decide," Bekele, the world record holder at both distances, told reporters.
"I have to run in the qualifying races and make a decision later. We'll see what happens as the season gets going."
Bekele dropped out of the 10,000 metres at last year's world championships in Daegu but finished 2011 as the fastest man over the distance after running 26 minutes 43.16 seconds in Brussels in September.
However, the 29-year-old finished a disappointing 11th in January's Edinburgh cross country and gaining strength rather than speed has been his focus over the past three months.
Bekele's agent Jos Hermens believes a tough road race before he embarks on his track season at the opening Diamond League meeting in Doha on May 11 will give a strong indication of the runner's shape.
"My training has been going well and I have lost the extra weight that I was carrying," said Bekele. "So it is very good that I can come here and have a hard race. We'll see how it goes but I'm feeling good."
Bekele will face a strong Spanish trio of Jesus Espana, last year's winner, Chema Martinez and Ayad Lamdassem in the 10 kms race at Phoenix Park.