Sinclair left Swansea for the Etihad Stadium last August, but after remaining on the periphery of City's squad throughout the season, he could leave the FA Cup finalists.
Laudrup has already revealed that he wants to sign as many as six players before the start of next season ahead of the club's first venture into Europe, and he has acknowledged that Sinclair is under consideration.
The 48-year-old told reporters: "Good players in his position are always an option and he has a British passport which is another thing we have to look at in an overall perspective.
"He has quality and he has already shown it and we will see what decisions we make on that for the future. But we have other players who can play that position that we are looking at."
The 24-year-old has failed to score in 14 appearances this season.