The executive is actively considering “additional planned interventions” to deal with the spread of Covid-19, the health minister said.
Robin Swann said he didn’t want “a return to a long-term or indefinite lockdown”.
Meanwhile, public health experts in the Republic of Ireland have recommended that the highest level of restrictions be applied across the country.
Politicians are expected to meet with the chief medical officer on Monday.
On Sunday, 462 more cases of Covid-19 were announced by the Ministry of Health.
One person has died within the past 24 hours after testing positive.
There are 65 people in hospital after testing positive for the virus, nine of whom are in intensive care.
In the Republic of Ireland, 364 new cases of Covid-19 were recorded on Sunday, no new deaths were reported.
Earlier, Stormont’s Finance Minister Conor Murphy told BBC Sunday Politics that “all options” would be discussed at the executive meeting on Monday.
Meanwhile, a 46-year-old woman has been accused of breaking coronavirus regulations in Strabane.
The woman is the first person in Northern Ireland to be charged under the new legislation.
She is due to appear in Londonderry Magistrates’ Court on Monday.
Murphy said he was “concerned” about the increase in cases, adding “as are all executives.”
“The main objective of the executive is to protect life and whatever action we take, we will take it,” he said.
“We must adopt a balanced vision of which we are sure the population will accompany us. “
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Robin Swann said NI hospitals were “already under increasing pressure and this will intensify in the coming weeks given the scale of new cases.”
“Concrete steps have been taken by the executive on a number of fronts and I will not hesitate to recommend further restrictions,” he continued.
“Saving lives and protecting our health services must come first. ”
The Minister of Health also urged people not to “look for loopholes or gray areas in the regulations”.
New restrictions for the Derry City and Strabane Council area were announced Thursday by the Stormont executive in a bid to stem the growing number of infections.
They include hospitality businesses that are limited to take out, delivery and al fresco dining, as well as a call to avoid unnecessary travel.
Speaking of the increase in cases across the NI, Dr Gerry Waldron of the Public Health Agency said a circuit breaker lockout was “almost inevitable.”
One circuit breaker is a short, abrupt period of tightened restrictions for everyone to curb the spread of the coronavirus.
“It’s not a place we expected to be at this time of year, at the beginning of October we thought we could see it maybe in the middle of October,” he said. he said Sunday on Radio Ulster with the Steven Rainey show.
“We absolutely insist that people take the advice of maintaining a social distance of two meters from other individuals, whenever possible.
“We’ll just have to prepare and see how things go over the next few days and next week. ”
He stressed the need to stick to the basics – keeping a social distance, wearing a face mask and continuing to wash your hands.
Speaking on the BBC’s Andrew Marr show, Boris Johnson urged people to behave “fearlessly but with common sense” in their approach to the coronavirus.
The prime minister warned of a “bumpy ride” to Christmas and beyond, saying winter could be “very harsh” for everyone.
He added that a balance had to be struck between saving lives and protecting the economy.