The Bureau of Meteorology says a tropical low is forming in the eastern Gulf of Carpentaria which will deepen and bring increasing rainfall for far north and central Queensland.

Forecaster Laura Boekel said the system could form into the state's fourth tropical cyclone of the season next week.

"Conditions are favourable for a potential tropical cyclone next week, but no official forecasts have been issued to this effect," she said.

"This is an area that we are keeping an eye on."

A flood warning for the Herbert River has been downgraded, but the system could bring more rainfall and renewed flooding this weekend.

A minor flood warning is place for the lower Flinders River, while a protracted general flood warning continues for the Diamantina River.

Category 1 Cyclone Imogen, and category 2 cyclones Kimi and Lucas have already formed this season off Queensland.

The three storms caused little damage or failed to make landfall.

Australian Associated Press