During her time as finance minister at the height of the euro zone crisis, she addressed turmoil in the country's banking sector and pushed through reforms encouraged by creditors.
Albuquerque is one of only six women nominated for the commission and has challenged von der Leyen's push for an equal membership.
Two diplomats told Politico that von der Leyen may reward female candidates by giving them more powerful posts.
Albuquerque is expected to face competition from current and former finance ministers, including Austria's Magnus Brunner, Irish candidate Michael McGrath and Wopke Hoekstra of the Netherlands, for the economic policy-making post.
Albuquerque, a former economist with years of experience in Portugal's finance ministry, was nominated as a candidate for Portugal's commissioner in 2014 but lost to his party colleague Carlos Moedas.
Governments have until August 30 to nominate their candidates, after which von der Leyen will assign them areas of responsibility.
