The Hampshire opener will be part of the bidding process on Monday and his availability for the start of the 2015 season will depend on him being picked up by one of the eight teams involved.
Carberry recently enjoyed a successful spell in Australia’s Big Bash tournament, where he was a part of the victorious Perth Scorchers side.
The 34-year-old scored 266 runs – the fifth-highest total of the tournament – at an average of 44.3.
He would become the third Hampshire player to take part in the IPL, following in the footsteps of all-rounder Dimi Mascarenhas and hard-hitting opener Michael Lumb.
Carberry stands to miss at least the first five weeks of the season if he is picked up, with the tournament starting on April 8 and concluding on May 24 with the final in Eden Gardens, Kolkata.