The announcement was made through the X social media platform on Tuesday.
The General Staff of the Polish Armed Forces said the aircraft "have reached their planned service life" and "not being earmarked for further modernisation."
It added that "the final decision is yet to be taken."
The General Staff said the possible donation of MIG-29s by Poland would be "part of the allied policy of supporting Ukraine and maintaining the security of the eastern flank of NATO."
The statement also said that the tasks of MIG-29 fighters being phased out would be taken over by F-16 fighter jets and FA-50 aircraft.
The Polish General Staff said that in connection with the planned donation, Poland was in talks with Ukraine to obtain select drone and missile technology from Kyiv.
The aim is "not only to compensate for donated equipment, but acquire and jointly develop new defence and industrial competences," the Polish military said.
Ukraine's air force currently has around 40 MIG-29s at its disposal, Polish state news agency PAP reported.
Following Russia's invasion in February 2022, Ukraine received 14 MIG-29s from Poland and 13 from Slovakia as part of military aid, it said.
(pm/gs)
Source: PAP