"The door is still definitely pretty wide open," she said.
Liukin won five gymnastics medals at the 2008 Olympics in Beijing, including gold in the all-around competition.
Right now, Liukin said she is leaning towards making a comeback.
"When the passion is still there and your heart is still in it, I really do feel that I have something left to give," she said.
Liukin said she'll make a final decision later this year.
Since Beijing, Liukin has been busy with many projects outside the gym. Her latest is the launch of a new line of clothing for girls at JCPenney. It's called "Supergirl by Nastia" and is patterned after the DC Comics heroine.
"I think when they're able to wear that 'S' shield on their shirt or dresses, they feel empowered, and they feel like they can do anything in this world," Liukin said.
Liukin is currently on a nationwide tour to promote the clothing line, which she helped design.
"A lot of pink and gold, silver and black -- obviously, gold for the Olympics, and pink was my signature color," she said.
The next stop on Liukin's tour is at Stonebriar Mall in Frisco on Saturday. She'll be signing autographs and speaking to girls in front of the JCPenney store from noon to 3 p.m.
The event will also include a gymnastics exhibition.