The idea has never been adpoted before because of fears that FIFA would insist on a Great Britain team at the World Cup as well.
But FIFA president Sepp Blatter said there was no danger of this happening.
"The four British associations will not lose the rights and privileges acquired back in 1947," Blatter insisted.
"They will play with one team but it is up to them how they do it.
"It can be a mixed team, it can be from just one of the home nations, whatever they want to do."
But there may be opposition from the British associations that still need to agree to the idea.
The Great Britain team would be limited to players aged under 23 but three over-age players would be allowed.
