She told Bloomberg Television Mr Trump’s election despite his political inexperience has made her rethink her own credentials for the Oval Office.
The 63-year-old US talk show doyenne, who supported Hillary Clinton, has previously brushed off questions about political ambitions.
But now she drops a tantalising hint of a potential future candidacy.
“I never considered the question even a possibility,” she told financier David Rubenstein on his Bloomberg Television programme when asked whether she might consider a run.
“I just thought, ‘Oh… oh?'”
Referring to Mr Trump, Mr Rubenstein pointed out that “it’s clear you don’t need government experience to be elected president of the United States”.
“That’s what I thought,” she continued. “I thought, ‘Oh, gee, I don’t have the experience, I don’t know enough.’ And now I’m thinking, ‘Oh.'”
Winfrey was an early supporter of former President Barack Obama in 2008, which some said gave him a boost in the primary election over his then-opponent Mrs Clinton.