The 26-year-old announced his retirement in April after being diagnosed with clinical depression.
"This decision by Mitch to investigate the potential of returning to play AFL is something we would expect Mitch to discuss with us," Demons football manager Josh Mahoney said in a statement.
"Our focus has been on Mitch's health and wellbeing. When the decision was made earlier in the year, it was on the advice that removing the pressure of being an AFL player was the best thing for Mitch's health."
Melbourne supported Clark as he made his decision to retire and has continued to do so since he quit the game.
He remains on the club's list for 2014.
Although the terms of his release remain confidential, there are a number of scenarios under the draft rules that could be played out if Clark commits to seeking a place on an AFL list in 2015:
• If Clark decided on a 2015 comeback before October 31, Melbourne could theoretically enter negotiations to re-contract him. However, it is understood that Clark is unlikely to seek this option.
• Melbourne could trade him to another club before the trade deadline ends on October 16, if an arrangement suitable to both parties was found.
• Alternatively, Melbourne could delist him by the deadline of October 31.
If Melbourne delists Clark, his options would then depend on the terms of his release that were negotiated in April:
• If Clark had officially retired as part of his release from Melbourne, he must make his way to another club via either the draft or pre-season draft.
• If he did not retire then he could become a delisted free agent and be picked up by a club of his choice.
Clark's management has been in dialogue with AFL officials about what would need to happen in the event of any comeback.
Clark has not played a game since round 4, 2013 and suffered several soft tissue injuries after recovering from his foot injury, before eventually giving the game away.
He remains in the early stages of training so there is no guarantee he will make it back.
However all football observers will be pleased with the news that he is in a position to contemplate a comeback.
Clark told the Nine Network in June that he did miss football but gave no indication that he would return to AFL.
"I'm very happy with the decision I've made. Obviously I miss the boys and miss the Melbourne footy club a little bit," Clark said.
"But part of me getting better was stepping away from (football) and I feel as though I'm getting better."