The Sydney Morning Herald reports Football Federation Australia CEO John O’Neill has confirmed his intent to bid.
Yet reports that the bid would be on behalf of Oceania and that some games might be played in New Zealand seem to ignore both that Australia is shortly to join the Asian Football Confederation and that FIFA is likely to be wary of any co-hosting.
"In 2006 the Cup is in Europe, in 2010 it's Africa, 2014 will be South America and in 2018 it's our turn," said O'Neill.
"They (the OFC) are prepared to put us up as host, with some matches to be in New Zealand."
FIFA boss Sepp Blatter is believed to be open to the prospect of Oceania hosting a World Cup.
But O'Neill warned there were several political hurdles to be cleared before the plan could become reality.
Australia has staged the Olympic Games, Rugby World Cup and most other major international sports events, with an excellent portfolio of facilities and a strong record in event management.
The recent launch of a new professional soccer league may also give its prospects a shot in the arm, although if a bid was successful the major benefits are likely to flow the other way.
There is little doubt that an Australian team playing in a home World Cup would inspire a country in which football has traditionally been peripheral.
O'Neill can at least point to his credentials as the former chief executive of the Australian Rugby Union, as he prepares to mount Australia's bid for one of the globe's biggest events.
He was the key figure in Australia successfully bidding for and hosting the 2003 Rugby World Cup.
