Officials at the track are monitoring conditions closely with gale force winds due to hit the track.
If racing is called off tomorrow, the course is reported to be planning to run Wednesday's card on Saturday.
Clerk of the course Simon Claisse announced in a video on Twitter that gusts could impact the track on Champion Chase day.
He said: "We wanted to give you an early insight into conditions for tomorrow.
"The forecast is looking challenging with strong gusting winds throughout the day.
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"We are continually monitoring the situation and will keep racegoers informed as the conditions present themselves."
The racecourse are believed to be considering extending the Festival to Saturday if racing is cancelled on Wednesday.
The last day to be lost due to weather at the Cheltenham Festival was in 2008 when the Wednesday was lost to high winds.
On that occasion, several races were rescheduled and run on Thursday and Friday.
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