Rohit has played 32 Tests, 224 ODIs and 108 T20Is for India.
Woman wrestler Vinesh Phogat, female paddler Manika Batra and high jumper Mariappan Thangavelu, who bagged a gold medal at Rio Paralympic, also feature in the list of names put forward to get the coveted award by Sports Ministry's 12-member selection committee.
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The panel, including popular figures such as former India batsman Virender Sehwag and ex hockey captain Sardar Singh, recommended the names after a meeting at the Sports Authority of India (SAI) headquarters.
This being only the second occasion when four athletes have been recommended to get the Khel Ratna award. Star shuttler P V Sindhu, gymnast Dipa Karmakar, shooter Jitu Rai, and wrestler Sakshi Malik were given the top sporting honour together in 2016.
Rohit, 33, who has played 32 Tests, 224 ODIs and 108 T20Is and scored close to 13,000 runs at the highest level, will be only the fourth cricketer to receive the award.
Legendary Sachin Tendulkar was the first recipient of the Khel Ratna in 1998, followed by India's most successful captain MS Dhoni in 2007 and world's contemporary best batsman Virat Kohli in 2018.
(Inputs from PTI)