The BJP's central election committee, chaired by Mr Shah, was also attended by Gujarat Chief Minister Vijay Rupani.
A preliminary list prepared by the BJP state unit was discussed, the sources said.
Gujarat's Deputy Chief Minister Nitin Patel, BJP state in-charge Bhupender Yadav and state BJP president Jitu Vaghani were also present at the two-hour long meeting.
The list of candidates would be announced at an "appropriate time", Union minister J P Nadda told reporters after the meet.
The elections for the 182-member Gujarat Assembly will take place on December 9 and 14. The votes will be counted on December 18, along with those of Himachal Pradesh, where elections were held on November 9.