A proposed compromise to complete nearly three years of talks reviewing the 1975 Helsinki Accords will be considered by the Reagan administration in meetings scheduled to begin Monday, State Department officials said yesterday.

The compromise proposed by Swiss delegates to the long-running Madrid talks would, if accepted, lead to a final session to be attended by 35 foreign ministers, including Secretary of State George P. Shultz and Soviet Foreign Minister Andrei A. Gromyko. This final session well could be the occasion for the first meeting of the top U.S. and Soviet diplomats since last September, officials said.

To discuss the proposed compromise, Max M. Kampelman, U.S. ambassador to the Madrid talks, is returning to Washington, according to the State Department.

Last week in Madrid delegates to the conference informally agreed to refer the proposed compromise to their home governments. State Department officials said, however, that this action does not bind the United States or other Western governments to accept the deal.

For nearly three years the Madrid meetings have been wrestling with a combination of military and human rights problems arising from the commitments accepted by governments in the East and West in the 1975 Helsinki Accords.

In recent months the United States and other Western countries have been insisting that the Soviet Union accept some human rights provisions to win Western acceptance for a European security conference, which the Soviet bloc and some Western nations favor.

The basic formula for a final agreement was proposed June 17 by Spanish Prime Minister Felipe Gonzalez. The Reagan administration accepted the Spanish formula as a package deal. Subsequently, the Soviet Union agreed to accept the formula as the basis for a final settlement.

State Department officials said that the proposal offered by the Swiss implements the generally agreed formula but that it is still an open question whether these details will be acceptable to the administration.

The main question is whether the administration will approve a commitment for convening a conference on emigration and family reunification that is set forth in the final statement of the Madrid meeting chairman rather than in the official document.

Although reports from Madrid said that a closing session attended by the foreign ministers has been scheduled tentatively for July 18, Washington sources said that no date has been agreed upon.

Shultz reportedly has been considering for several months the possibility of a summertime session with Gromyko to discuss the many outstanding problems in U.S.-Soviet relations, including the Euromissiles negotiations and the strategic arms negotiations, both of which are under way in Geneva.

If there is no such meeting this summer, Shultz and Gromyko would be expected to meet as usual near the beginning of the annual United Nations General Assembly session in September.