"The party is definitely looking at her as a potential candidate and she may join us in future," Khanna, himself a former Bollywood star, told reporters in the city of Chandigarh.
Shetty drew widespread praise for the graceful way she endured allegedly racist bullying to win Britain's Celebrity Big Brother reality television program, which spread her fame well beyond India.
With 63 percent of viewers' votes, Shetty beat five other finalists on Sunday at the end of the four-week program, in which she suffered the bullying from her co-contestants.
Khanna said the BJP, ousted from power in 2004 national elections, would be hoping to give her a political make-over to prepare her for polls next month in three Indian states. It is unclear if officials have approached her yet.
"We are the big brothers and we would be happy if she joins the BJP," Khanna said.
Both the BJP and India's ruling Congress party count among their members a number of Bollywood celebrities, who they mainly call upon to pull crowds, especially during provincial or federal balloting.
The alleged bullying of 31-year-old Shetty had India's Hindu nationalists up in arms with demands ranging for her immediate withdrawal from the reality television show to a review of Anglo-Indian diplomatic ties.
The governing Congress party also protested.
Among the controversial comments made in the house two weeks ago, which sparked an international storm, Shetty was called a "dog" and asked whether she lived in a shack.
A small group of protestors in India then burned effigies of the show's producers.
The row also overshadowed a visit to India by Britain's finance minister and possible future prime minister, Gordon Brown.
Khanna, a BJP parliamentarian, said Shetty's new-found popularity would help her win a legislative seat during next month's elections.
India's states of Punjab, Uttaranchal and Manipur will vote next month.
"We are looking at potential candidates who can join us and Shilpa happens to be one of them," the Press Trust of India quoted Khanna as saying.
India's corporate sector too joined the race to cash in on Shetty's new-found popularity with at least one company approaching her to endorse its brand, officials said.
"Of course, she is popular again and we are looking to sign her up for some of our brands," said Aditya Agarwal, director of Indian cosmetics group Emami.
"She would be good for hair and skin-care products and we have approached her agent to take forward the process," the executive told.
Among various products, Emami markets skin cream that claims to lighten the complexion of its users.
Shetty after the victory told fans she was proud of her nationality and the colour of her skin.
Industry sources said an Indian carmaker was also planning a contract for her to promote premium cars.
"Given her popularity this is very much on our cards," an official from the automobile company added.