Brisbane has been chosen as the preferred bidder for the 2032 Olympics and Paralympics.
The International Olympic Committee president Thomas Bach announced its executive board had voted unanimously to accept the Queensland city as first "non-binding" choice for the Games.
"The commitment of Australia and Oceania to Olympic sports has grown remarkably since the fantastic Olympic Games Sydney 2000," said Bach.
"This is why we see such strong public support. We decided to seize an opportunity to take to the next stage our discussions about returning 32 years later.
"In this way, we are also acknowledging the strength of the Australian team and other athletes from across the continent of Oceania at the Olympic Games over the past decades."
The IOC has a new, more targeted and flexible approach to future host venues which is permanently open to "exploratory, non-committal continuous dialogue with interested parties".
Several other cities and countries have publicly expressed an interest in the 2032 Games including Indonesia, Budapest, China, Doha and Germany's Ruhr valley among others.
It is not yet clear when the vote to select the host of the 2032 Games will take place. The previous rule of voting on it seven years in advance has also been scrapped.
Paris is hosting the 2024 Games, with Los Angeles confirmed for 2028. Cortina d'Ampezzo in Italy will host the 2026 Winter Games while Beijing will stage the 2022 Winter edition next year.