The Otago Daily Times understands the university is also considering a logo change.
Acting vice-chancellor Prof Richard Blaikie said the university was working with mana whenua to review the Māori name, which is Te Whare Wananga o Otago at present.
This was to ensure the name was a true reflection of the university’s identity, he said.
Other universities had done the same in recent years.
Victoria University of Wellington changed its Māori name in 2019, and in 2021 the University of Auckland did the same, both moving from more literal translations to more meaningful names.
The university was also considering options to modernise its brand, and consultation would take place over the coming months, he said.
"We will be consulting with key stakeholders within the university community, including staff, students and alumni."
Any changes would then be decided by the university council, and there were no plans to change the university’s English name.
The university did not confirm the possibility of a logo change and did not answer questions about whether the Māori name would take prominence in university branding.
In an email to staff, Prof Blaikie said there were "no plans to change our name from the University of Otago" and staff consultation on branding would take place in March.
The brand modernisation process follows vice-chancellor Prof David Murdoch’s promise last year that creating change would be his "highest priority" following a brutal review of allegations of racism at the School of Physical Education, Sport and Exercise Sciences.
Heretaunga Tamatea Settlement Trust chief executive and former University of Canterbury assistant Māori, Pacific and equity vice-chancellor Dr Darryn Russell’s review upheld the allegations.
The report concluded, though the university claimed to be committed to the Treaty of Waitangi and Māori success, it was not.