No timetable has yet been set, but Bisciotti said it could be done in a year or two.
"I think he set himself apart in Baltimore sports history," Bisciotti told ESPN.com, "and we will certainly look into it and I would not be surprised if there is one there in the next year or two."
There is already a statue of legendary Baltimore Colts quarterback Johnny Unitas outside the stadium.
Hopefully, the statue of Lewis won't be of his over-the-top, over-staged and over-dramatic entrance dance.
Follow me on Twitter @TerryMc13
Terry McCormick covers the Titans for TitanInsider.comFollow @footballpost on Twitter for the latest news
This story originally appeared on Nationalfootballpost.com