Lord's could get less than one Test every two years as cricket bosses consider the claims of other venues.
According to The Daily Telegraph, it will be guaranteed a maximum of two Tests in a five-year window from 2012.
England and Wales Cricket Board (ECB) managing director Hugh Morris said: "It's important for people in different parts of the country to see cricket.
"We're very fortunate that we've got a number of very high-quality venues up and down the country," he told the BBC.
The ECB is reportedly considering a plan to spread England matches more evenly around the country's nine category A international venues.
The proposals mean Lord's, which regularly sells out and has the biggest capacity in the country, would get a drastically-reduced portfolio from its current two Tests a summer.
MCC chief executive Keith Bradshaw said such plans would undermine plans for a £200m redevelopment of the ground.
"We are disappointed that the ECB doesn't recognise Lord's as an iconic venue in the same way that Wembley and Twickenham are viewed by football and rugby," Bradshaw told The Daily Telegraph.
"We had big plans to redevelop the ground. If we don't have assurance of major matches, which underpins future investment, we will have to ask ourselves if those plans are still justified."
606: DEBATEHowever, Morris added: "We're very comfortable with the venues we have and we look forward to taking cricket to different people throughout the country."
Lord's, which has hosted Test matches since 1884 and can hold 30,000, is the most lucrative venue for England.
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