It had been suggested, following the monarch’s private message to Mr Biden following his inauguration in January, that a face-to-face meeting between the heads of state could be on the cards when the US leader flies into the UK.
With Mr Biden set to attend the G7 gathering in Cornwall, broadcaster CNN said a US official briefed that the White House was preparing for the President to meet the Queen during his first international trip since taking office.
It is not thought the two world figures have met before.
During the Queen’s 69-year reign, there have been 14 American presidents – from Harry S Truman to Mr Biden.
She met Mr Biden’s predecessor Donald Trump when he made a state visit to the UK in June 2019 in the last days of Theresa May’s premiership.
The President and First Lady Jill Biden sent their condolences to the Queen following the death of her husband, the Duke of Edinburgh, in April.
Mr Biden and his wife said they were keeping the royal family “in our hearts during this time”.
Having taken up his post in the Oval Office, the coronavirus pandemic has limited opportunities for Mr Biden to travel outside of the US, meaning the G7 gathering will be his first foreign engagement in person.
The White House incumbent is due in Britain for the start of the summit on June 11, before heading to Brussels to join a Nato summit three days later.
He is scheduled to meet with Russian President Vladimir Putin on June 16 in Switzerland for talks on repairing relations between Washington and Moscow.
Downing Street said plans have not yet been finalised for the G7 leaders’ itinerary when asked about reports of a possible meeting between Mr Biden and the monarch.