"We'll discuss it with the team and make a decision if the offer is extended,'' McGraw told The Associated Press by phone Monday.
Last year's national champion, South Carolina, declined an invitation, instead saying it would focus on the season ahead.
Notre Dame won its second national title on Sunday after an historic second-half comeback and a last-second 3-point shot by Arike Ogunbowale that lifted the Irish 61-58 over Mississippi State.
"Phenomenal for women's basketball. Three exciting games. I hope the ratings reflect it,'' McGraw said after the game. "The crowd was tremendous tonight. Everybody came back. Just an incredible job by Columbus and the local community. Great support for women's basketball and definitely one of the best Final Fours since 2001, right?''
Sunday's championship came 17 years to the day of the Irish's only other national title.
Information from the Associated Press was used in this report.