Bosses of the ITV reality dating show had reportedly chosen to stick with Majorca for this year's series as the Covid-19 situation began to improve.
However, it has now emerged that Jersey is still part of contingency plans being drawn up in the event of a spike of cases in Europe.
And, according to reports, a villa has been identified in Jersey should the show end up coming to the Island.
A source quoted by The Sun said: 'After what we've endured over the last year they are taking nothing for granted. Their motto is: hope for the best, plan for the worst. Every eventuality has been addressed and planned for – including a third wave. But the general feeling is that Majorca is a go.'
Contestants are said to have already begun having medicals ahead of the show's return this summer.
When news first emerged last month that the Island was being considered, branding experts said that the show could potentially expose a new generation to Jersey and boost tourism.
Even just the mention of Jersey alongside the Love Island brand led to a spike in interest from 25-to-34-year-olds on Visit Jersey's website.
It was understood at the time that the Government of Jersey had been involved in ministerial level discussions with show bosses.