Flynn had worked out for the Packers on Monday.
Packers coach Mike McCarthy has said that Scott Tolzien, who replaced Wallace in Sunday's loss to the Eagles, would start this Sunday against the New York Giants. Tolzien completed 24 of 38 passes for 280 yards with one touchdown pass and two interceptions against Philadelphia after Wallace left with a groin injury.
McCarthy said Monday that Rodgers believes he is still a few weeks away from returning to action from his broken left collarbone.
McCarthy's staff has a positive history with Flynn and confidence in his knowledge of the team's offensive system. Flynn, who has played for the Seattle Seahawks, Oakland Raiders and Buffalo Bills since leaving the Packers in the 2012 offseason, passed for 480 yards and six touchdowns in his second start for the Packers in their 2011 regular-season finale. Both totals set team records.
A source told ESPN NFL Insider Ed Werder on Sunday that the Packers wanted to evaluate the health of the elbow on Flynn's passing arm during Monday's workout.
ESPN.com's Kevin Seifert contributed to this report.