AFC president Mohamed bin Hammam announced the decision in Kuala Lumpur after Australia had applied to officially become the 46th member of the confederation.
"The executive committee unanimously endorsed the wishes of Australia to join the AFC," bin Hammam said after a committee meeting in the Malaysian capital.
First the Oceania Football Confederation (OFC), of which Australia is currently a member, must approve Australia's departure at its executive meeting next month.
And the move from the OFC to the AFC would then have to be endorsed by soccer's world governing body, FIFA.
Asia has four automatic World Cup qualifying berths and a playoff.
