Indian women's cricket team skipper Mithali Raj has also been nominated for Padma Shri.
"Yes, the Board has recommended their names for these honour - Padma Bhushan for Dhoni and Padma Shree for Kohli and Mithali Raj," a BCCI source told PTI.
The news comes at a time when the Dhoni-led Indian cricket team is going through a tough time in England, trailing 1-2 after two back-to-back demoralising defeats in the five-match Test series.
Dhoni, who was awarded the Padma Shri in 2009, will become the 10th cricketer to receive the honour -- the third highest in the country -- if the BCCI's recommendation is accepted by the government of India.
Last year, India beat England in the final of Champions Trophy to clinch the title.
As far as out-of-form Kohli is concerned, the aggressive batsman has performed well in all formats of the game until the England tour.
The 25-year-old Delhi lad has already amassed 5634 runs in 134 ODIs, emerging as India's mainstay in the recent past. He has already racked up 25 international centuries.
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