Indigo Shire mayor Bernard Gaffney confirmed on Friday he would not be seeking pre-selection due to concerns with the amount of time to effectively campaign in the lead-up to the next federal election.

The National Party is expected to finally call for pre-selection nominations early next week.

Cr Gaffney has been touted as a potential Nationals candidate since early February when they held a party room meeting in Wodonga.

"The other parties have been campaigning for several months," he said.

"It would be very difficult to build a profile in the southern parts of the electorate at this stage.

"An election could be called as early as March.

"This would be an unwarranted distraction from my obligations to the people of Indigo Shire.

"I know some very good people in Benambra who will put their hands up.

"But none of them have a high profile."

Nationals state director Jenny Hammett couldn't be contacted for comment on Friday, but party sources said the pre-selection process would start next week.

The Nationals most recent candidate in Indi in 2001, Don Chambers, said the move was long overdue.

"It's not before time," he said.

"We need to get into it."

Marty Corboy has also been touted as a pre-selection contender.

Asked whether he would be standing, Mr Corboy said: "I won't be making any comment until the appropriate time".

The Nationals have been beaten into the Indi battleground by the present member Cathy McGowan, the Liberal Party's Sophie Mirabella, Labor's Eric Kerr, Country Alliance's Julian Fidge and Greens’ contender Jenny O'Connor.

The latest betting on Indi courtesy of Sportsbet has Ms McGowan a $1.33 favourite to retain the seat she won from Mrs Mirabella in 2013.

Mrs Mirabella is a $4.50 chance followed by the Nationals at $7.

Mr Kerr is a $16 outsider in the race.