Reports suggest the marathon world record holder, whose career may well be defined by her disappointments at previous Games, would not be on the start-line in seven days time.
But team officials claimed they were still monitoring the 38-year's old fitness and wouldn't be making a decision for at least 24 hours.
Radcliffe has been struggling with a foot injury for some time and has recently been receiving treatment at the Munich surgery of sports doctor Hans Müller-Wohlfahrt.
Radcliffe showed shows of her old self at last year's Berlin Marathon, when she won her quickest time in five years.
But she ran a shocker at the Vienna half-marathon, blaming an untimely bout of bronchitis and pleurisy.
Speaking earlier this year, Radcliffe's close friend Liz Yelling claimed she wouldn't put herself through another Olympics unless she was 100 percent fit.
"What I know is that Paula will be true to herself," said Yelling.
"If she doesn't think she can run to her potential I don't think she will put herself on the line again. She will want a trouble-free build-up."
However, it is clear that Radcliffe certainly hasn't enjoyed such preparations and insiders fully expect her to confirm her withdrawal in the next two days.