The industry veteran is making a comeback in an as-yet untitled project by Gauri Shinde.
In an interview with Hindustan Times, she said: "I'm going to shoot when [my daughters are] on their holidays and so they're going to be with me.
"So, there's nothing to worry about. The role of mother will always come first."
She left the industry in 1997 to start her family with producer husband Boney Kapoor.
Sridevi added that she would probably make a fully-fledged return to acting when her daughters are older, but has not planned anything.
The actress was recently mentioned as being a favourite to play her contemporary Rekha in a biopic of the actress.