Officials have already met with provincial and municipal representatives as well as technical experts to discuss the idea.
The plan involves fencing off a certain area of the park and bringing bison in from Elk Island Park near Edmonton.
The fence would be removed after the bison got used to their surroundings.
At one time, bison roamed the east slopes of the Banff area in huge numbers, but vanished before the park was created 126 years ago.
Parks Canada says it is inviting the public to provide feedback on the idea on the agency's website.
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