The 52-year-old is thinking of taking the two strikers to the European Championship this summer in Poland and Ukraine
The forward pairing, who play for Werder Bremen and Borussia Monchengladbach respectively, have been omitted from the squad to face France on Wednesday in Bremen, but Low says they could well be in his plans come June.
"We still have Marin on our radar," he said during a press conference. "He is a player who does extremely well in one-on-one situations.
"I wouldn't write him off because he is a player who can decide a game on his own. If he proves himself in the longer-term, he is an alternative."
And when asked whether Hanke has a chance of making the tournament, Low replied: "Of course. I am very happy with Mike's development. He has disappeared for a while, but it makes no sense to make early predictions."
Germany are seen by many as one of the favourites for Euro 2012, but will have to navigate through a difficult group consisting of Portugal, Netherlands and Denmark.