Jacobs, a Victorian, has walked out on the Power, seeking a new club in his home state.
He has been strongly linked to North Melbourne, who failed to reach agreement with Port Adelaide during the Gillette AFL Trade Period.
But, with the Kangaroos unlikely to part with pick 15 and their next selection coming at 38, the Bombers - who were also linked to Jacobs during the trade period - may get in first.
On Friday morning, Bombers senior assistant coach Mark Thompson said the club would look at selecting some players who have "been in the system for two or three years" at the draft.
"[Jacobs] is one we'd consider," Thompson said before training at Windy Hill.
"I have no idea [if he'll get through to pick 35]. I hope so."
In order to recruit Jacobs, Essendon would need to agree to pay the price the 20-year-old has put on his head in delisting himself from the Power.
After cutting Brent Prismall, Ricky Dyson and Ariel Steinberg this week, Essendon now has five live picks in the draft, alongside father-son selection Joe Daniher and promoted rookie Mark Baguley.
Thompson said the decision to delist Steinberg with a year to run on his contract - with a commitment to taking him in the rookie draft - was in part because the 20-year-old hadn't developed as hoped, and in part because the club has clear goals approaching the draft.
"We wanted some picks," he said.
"We've put a lot of work into the draft, and we know exactly what we want to get, and we just needed one more spot.
"We're going to get some very, very good players for the future."
Prismall, who didn't play this year after undergoing a second knee reconstruction in 2011, has been invited to continue training at the Bombers.
But based on Thompson's words, he appears unlikely to get another chance at Windy Hill.
However, Thompson, who also coached Prismall at Geelong, was sympathetic to the 26-year-old's misfortune.
"Brent's been horribly unlucky; after his last reconstruction, he just couldn't get on the track," Thompson said.
"It's been really frustrating for him.
"But he can certainly play; if he gets over the injury and his knee comes right, he's certainly a player.
"He's had two reconstructions since he's been here, so he hasn't played much footy, and that's a problem.
"If you don't get to play these days, it's really difficult to keep people on the list.
"It's unfortunate, because he's a beautiful person and a great clubman, and he does everything he possibly can.
"Unfortunately his leg hasn't stood up over the last 12 months."
But Thompson expressed confidence that Prismall would find a new AFL club.
"I think he will [get a chance somewhere else]," he said.
Thompson said it was unlikely the Bombers would save a pick for the pre-season draft in December.
