Wales play Finland and Germany in Group Four qualifiers in Cardiff on March 28 and April 1 respectively. Toshack on Monday announced a 27-man squad which included Manchester City striker Bellamy, who has not played since damaging a knee against West Ham on March 1.
He is not expected to play a first-team game for the Eastlands club before Wales' two crunch qualifiers.
However it is believed that Bellamy has intimated to the FA of Wales that he wants to be involved in the two matches.
Such a situation could give City manager Mark Hughes some concerns with a Uefa Cup campaign also still in full swing.
Toshack has also included West Ham defender James Collins, who is only just back in light training following a hamstring injury, but Jack Collison is out with a dislocated knee which will see him sidelined for six to seven weeks.
Hull's Sam Ricketts has been included despite being suspended for the Finland match following two bookings, while Blackpool's David Vaughan is out with a hamstring strain.
Veteran Carl Robinson, now with Toronto, has been included, having missed the recent friendly against Poland in Portugal.
Toshack also has concerns over Peterborough defender Craig Morgan, who has a foot injury.
If Morgan and Collins both fail to recover in time, Wales should have adequate cover.
Middlesbrough's Rhys Williams - on loan at Burnley - has been elevated from the Wales Under-21 squad who face a Uefa Championship double-header against Luxembourg on March 27 and 31.
There was also a recall today for Bristol City midfielder Gavin Williams, who was capped twice during his spell with West Ham.