England lost their status as the best team in the world after the series loss to South Africa this summer and Strauss's position has been called into question on numerous occasions since the defeat.
The ECB have scheduled two press conferences on Wednesday, with England managing director Hugh Morris and chairman of the board, Giles Clarke, both expected to be present.
Despite original suggestions that Andy Flower may be quitting as head coach, The Mirror have now reported that Strauss will be at the centre of the press conference at Lord's.
Flower reportedly held a 45-minute discussion with England players following the 80-run defeat to South Africa in the second one-day international at the Rose Bowl.
Strauss has been captain since 2009 but despite originally planning to lead the squad until 2013, the 35-year-old could now be replaced by Alastair Cook, who is favourite to be named as the new skipper.