The German Defense Ministry has not denied the report, a Defense Ministry spokesman saying only that now is "not the time for speculation about a military deployment, but rather for diplomatic negotiations," according to Deutsche Welle.
The mission, Der Spiegel explains, would be possible only after rival factions in the war-torn country agree to form a unity government.
Descending into chaos in 2011 following a Western-backed military effort to oust Libyan leader Muammar Gaddafi, Libya's internationally recognized government was forced in 2014 to retreat to the eastern city of Tobruk.
The possible deployment comes amid Germany's growing involvement in the Western coalition's war against Daesh. On January 6, Berlin confirmed that it would be deploying an additional 550 troops to missions against Islamist militants in Mali and Iraq.