The FAI has confirmed it will stage a joint bid to host Euro 2028 with England, Northern Ireland, Scotland and Wales.
It follows the recent decision of the five nations to scrap plans to bid for World Cup 2030.
Euro 2028 is set to be expanded from 24 teams to 32 and a decision on the winning bid is expected in late 2023.
Turkey are also interested in hosting Euro 2028, while Romania, Greece, Bulgaria and Serbia have already discussed a joint submission.
The closing date for bid registration is March 23 with an official announcement on all of the candidates due on April 5.
A statement from the FAI read: “Following an extensive feasibility study, which assessed the potential opportunities in international football, the football associations of the Republic of Ireland, England, Northern Ireland, Scotland and Wales have agreed to focus on a bid to host UEFA EURO 2028, the third largest sports event in the world.
“The feasibility study included an analysis of the economic impact, the political football landscape and likely costs of hosting major international tournaments.
“On balance, the five associations have decided to focus solely on an official bid to host UEFA EURO 2028, and have agreed not to bid for the 2030 FIFA World Cup.
“Hosting a UEFA EURO offers a similar return on investment, with the European tournament carrying a far lower delivery cost and the potential of the benefits being realised sooner.”
The statement continued: “It would be an honour and a privilege to collectively host UEFA EURO 2028 and to welcome all of Europe.
“It would also be a wonderful opportunity to demonstrate the true impact of hosting a world-class football tournament by driving positive change and leaving a lasting legacy across our communities.
"We believe the Republic of Ireland and the UK can offer UEFA and European football something special in 2028 – a compact and unique five-way hosting collaboration that will provide a great experience for the teams and the fans.
“We continue to collaborate with our Government Partners of Ireland and the UK about the next steps.”
Get the latest sports headlines straight to your inbox by signing up for free email alerts
