A formal announcement on Raja's renomination will be announced soon by CPI General Secretary Sudhakar Reddy.
Reddy and senior party leader A B Bardhan had recently met Tamil Nadu Chief Minister Jayalalithaa in Delhi to seek the ruling AIADMK's support for Raja's candidature.
However, Jayalalithaa had said to the CPI delegation that the entire strength of her party in the state assembly would be used to elect five of her party leaders to Rajya Sabha.
The tenure of Raja, along with A Elavarasan, V Maitreyan (both AIADMK), Kanimozhi, Tiruchi N Siva (both DMK) and B S Gnanadesikan (Congress) expires on July 27.