The move for a genuine international competition has been gaining strength for some time and owners will discuss proposals when they meet in September.
Major League Baseball clubs currently have 171 players from countries other than the US. They include Australia and Holland as well as Japan, Puerto Rico and Mexico.
"We can't do it in 2000 because that is an Olympic year. We're still in preliminary discussions but I see no reason why we couldn't have something by 2001," MLB President Paul Beeston told USA Today.
The competition would be a key tool for the league as it works to expand spread the baseball gospel around the world.
If the competition goes ahead, it would be times to avoid clashes with the MLB season and it is likely that an indoor 'dome' stadium would be used.
Baseball could stage its first world cup as early as 2001.
