PLAS Tan y Bwlch may be sold after concerns were raised over crippling running costs.
The mansion, considered one of the grandest in Wales and the former home of the Oakeley family, is currently run by Eryri National Park Authority.
The authority is to consider a partnership model over the next six months, but if no partnerships materialise, the Maentwrog estate will be offered on the open market.
A partnership model would see a third party run and develop the site, 'preferably as a going concern'.
A report into the mansion's future, which is currently used as an environmental studies centre, says: "Plas Tan Y Bwlch has played a role in the identity and business of the Authority over many years.
"However, in recent times the business model for Plas has been unable to deliver against the authority’s statutory purposes and the challenge of becoming commercially viable has not been achievable.
"The last ten years specifically have been challenging in terms of running Plas due to austerity, implications of the pandemic and now inflationary pressures on Plas.
The report adds: "It was reported to the board that the likely capital need in Plas over the next ten years would be in the region of £3M and the annual revenue costs at present are in the region of £240K to 260K.
"Members felt that such a resource could be utilised in delivering more directly against National Park purposes.
"(The) board conceded that if the authority wishes to see Plas prosper then a partnership approach could be a mechanism, especially if the Authority wishes to retain an interest in Plas."
The reports goes on to say that that two estate agents had been approached as to their view of the potential marketability of Plas on the open market.
Both confirmed that a potential market does exist and commented on the relatively good condition of Plas.
The report concluded: "The authority needs to reduce the revenue and capital costs resulting from operational management of Plas Tan Y Bwlch and the Authority needs to consider alternative models for Plas Tan Y Bwlch which includes forming partnerships or
open market disposal, preferably as a going concern.
Some National Park Authority members feel the sale would attract worldwide interest and officers acknowledged this was a hard decision the authority was being asked to take.