Once the removal is officially announced, the change would take effect after 21 days, Kyodo said.
Asked about the plan, Chief Cabinet Secretary Yoshihide Suga told a news conference that nothing had been decided on the time frame.
The period for canvassing public opinion in Japan ended on Wednesday. South Korea has protested the Japanese plan, saying it would undermine their decades-old economic and security cooperation and threaten free trade.
There are currently 27 countries on Japan's white list including Germany, Britain and the United States.