Judith Collins is expected to remain National leader while Shane Reti is tipped to become her deputy as the caucus votes to decide on the leadership team.
National's current deputy leader Gerry Brownlee stepped down from the role last week after the final election results were unveiled. National now has just 33 seats in Parliament down from 56 after the 2017 election.
"It's time to think about the three years ahead. I want Judith to have the strongest and most complementary support beside her as leader," Brownlee said in a statement on Friday.
"My focus, moving forward, will be on rebuilding National's base in Christchurch and representing our voters there. Accordingly, I will not be seeking reappointment as the deputy leader when caucus meets on Tuesday."
It's customary for the National Party caucus to vote on their leadership team after an election which is why Brownlee stepped down from the role in time for the party's first caucus meeting since the final election results.
Health spokesperson Shane Reti, of Māori descent, is tipped to replace Brownlee in the deputy role thanks to his 17 years' experience as a general practitioner - knowledge some say could prove useful during a global pandemic.
National MP Mark Mitchell ruled out a bid for the deputy leadership on Tuesday and also acknowledged it would be good to have someone with health experience in the position.
"Yeah I do, and I think Shane's a genuine medical doctor so he's already shown over the campaign that he's got good knowledge around it, so yeah I think it would be," he told reporters ahead of the caucus meeting.
National MP Chris Bishop has also ruled out going for the deputy leadership.
Collins was tight-lipped on who might fill the position.
"My pick will be whoever the caucus delivers," she said. "I'm trying not to get involved in any of it and my preferred option will be whoever caucus delivers."
She said Brownlee was not pushed out.
"No, absolutely not. Gerry has come to his own decision. I'd like to take this opportunity to say thank you to Gerry for all of his support he has given to me and to the party and what he's continuing to do because he's going to be a very active member of our caucus and someone who I certainly rely on a lot."
Brownlee said despite stepping down from the deputy role and losing his Ilam seat to Labour - an electorate he held since 1996 - he will still be an active member of caucus.
"I'm still around. I'm very comfortable with where we've got to and I'm sure that the new deputy will complement Judith in other ways," he said.
"We are a small group - we need to be a team and that will be one of the roles that I want to take up, making sure that we stay that way."
Brownlee said he accepted some of the blame over the election defeat.
"I was campaign chair so of course some of it falls at my feet but there is a party review going on that will be quite exhaustive. It's been a good process so far - the caucus side of it - and I think we'll end up with a pretty clear indication of what we need to do to become more competitive and to get more in line with the way New Zealanders are thinking at the present time."
There is also speculation that Paul Goldsmith could lose his finance portfolio after billions of dollars' worth of mistakes was identified in the party's economic plan during the election campaign.
"It's up to the leader to decide what happens there," Goldsmith told reporters. "We all campaigned hard, I'm proud of what I've done, but we had a bad result. I had a senior role so I'm fully accountable."
Collins said there are other National MPs who want the position.
"You may have read some speculation. All I'll say is there will be surprises," she said. "There are several people who are willing to sacrifice themselves for the finance role."
National's seats in Parliament shrunk from 35 to 33 after the final election results were released by the Electoral Commission on Friday. The final results are released once special votes - people who enrolled to vote on Election Day and from overseas - are counted.
National lost three electorates to Labour - including Whangarei which had been held by Dr Reti. But because Dr Reti is high on National's party list, he will become a list MP.
The other two National MPs who lost their electorates after the final results came in - Denise Lee in Maungakiekie and Matt King in Northland - weren't high enough on the party list to get back in.
Labour won another seat thanks to the final results, bringing its total number of spots in Parliament to 65 out of 120. The Māori Party also picked up another seat so it now has two MPs.
Collins is expected to announce a caucus reshuffle this week.
