After finishing sixth in the 2000 Guineas, fourth in the Epsom Derby and fifth in the Coral-Eclipse, the son of Frankel enjoyed a confidence-boosting success in last month's Group Two Prix Guillaume d'Ornano at Deauville.
Meade was initially keen on a return to France for a tilt at the Prix de l'Arc de Triomphe, but an appearance on Irish Champions Weekend now appears increasingly likely.
"We've left him in and a lot will depend on what else is going to run, but there's definitely a strong possibility we'll let him go," said the Newmarket handler.
"It will be down to what else is declared on Thursday. I'm happy to take on Churchill, but there's Winter there as well, so we'll see.
"We're seriously considering it. The horse is in very good form and Frankie Dettori is booked to ride.
"I think the win in France did the horse a lot of good."
With the Arc taking place three weeks after the Irish Champion Stakes, it is not inconceivable Eminent could run in both, but Meade added: "I think if he runs on Saturday it might be his last run (of the season).
"He would need to win and win well for us to think about running in the Arc."
Eminent is one of 14 horses still in contention for the 10-furlong Group One showpiece.
Dual 2000 Guineas hero Churchill and his dual 1000 Guineas-winning stablemate Winter are among six possible runners for Aidan O'Brien, along with Cliffs Of Moher, Lancaster Bomber, Taj Mahal and Hydrangea.
Sir Michael Stoute has withdrawn Ulysses as expected, but could still be represented by Poet's Word.
The other potential British challengers are the Roger Charlton-trained Decorated Knight and Saeed bin Suroor's Benbatl.
Moonlight Magic, Success Days, The Grey Gatsby and Zhukova make up the field.