In a letter to the mayor of the southwestern city of Katowice, the former anti-regime activists said that the staunchly anti-communist Reagan had been a "symbol of liberty," the Polish news agency PAP reported.
As a result, they said, he deserved to become the centre-piece of the city's Freedom Square, replacing a monument to the Soviet troops who drove out the occupying Nazis in 1945.
They also said that they wanted the site to be rebaptised "Ronald Reagan Freedom Square."
City hall spokesman Waldemar Bojarun said that Katowice's councilors would consider the issue.
Bojarun said that he had "enormous respect" for Reagan, as do a lot of people in the former Soviet Empire.
However, he said, the proposal could cost an estimated 500,000 zlotys (128,000 euros, 168,000 dollars) and the city had "other pressing needs." Looks like he is looking for donations.
There are already separate plans to erect a statue in memory of Reagan in the centre of the Polish capital, Warsaw, which would be paid-for from private funds.
Reagan, who dubbed the Soviet Union an "evil empire" is widely credited by Poles with having driven communism away for ever.
The conservative Republican made fighting communism the cornerstone of his 1980-1988 presidency, and backed Poland's Solidarity trade union after it went underground when the regime declared martial lawin 1981.
President Reagan died in June 2004 at the age of 93. Make sure you go to his Presidential library in Simi Valley just out of LA if you are in the area.