"If the state government withdraws cases against him, he (Panda) may consider surrender," Das told reporters at Ranpur in Nayagarh district.
She was at Ranpur to visit the Anganwadi Centre where seven children died due to wall collapse on Monday.
Das, who was released from jail during the twin abductions involving two Italians and an MLA, said the Maoist movement was gradually turning violent. "The party has strong hold in some areas and weak pockets in other places," she said.
Das's statement on possible surrender of her husband apparently stemmed from the recent call given by the state's new DGP Prakash Mishra. The DGP had said he would be "very happy" if Sabyasachi, secretary of Odisha State Organising Committee of CPI (Maoist) returned to the mainstream.
Panda, allegedly involved in more than 50 criminal cases including killing of VHP leader Laxmananda Saraswati and attack on police station and armoury at Nayagarh was the most wanted guerrilla for whom the state government had declared a reward of Rs 20 lakh.
Son of a former CPI(M) MLA, Panda in March held two Italian nationals hostage for a fortnight and released them unhurt after a negotiation with the state government.