Mayor Rob Ford said Tuesday he's all for it, particularly if the city can turn a profit for taxpayers, the Canadian Broadcasting Corp. reported.
"I'd love to see us sell the zoo and make money on it if we can," Ford said.
The city put out a request for expressions of interest in the zoo Monday. City officials say they will entertain offers to buy the zoo, lease it or other "innovative, creative and sustainable options," the CBC said.
The Toronto zoo has more than 5,000 animals kept on several hundred acres of land. About 1.3 million people visit the city-subsidized facility each year.
Anyone interested in owning a zoo has until Nov. 26 to put in a bid.