Cahill, who holds a record of 50 goals for the Socceroos, said via Twitter on Tuesday that he would no longer play for the national team after representing his country at four consecutive FIFA World Cups, including this summer's tournament in Russia.

“Tim Cahill is a football great in Australia. As a player and as a person he has had an enormous impact on the game,” Lowy said.

    Cahill confirms international retirement    
    Tim Cahill - A career in pics    

He added that the federation hoped to continue working with Cahill to promote football in Australia.

“Tim’s performances on and off the pitch and his feats at FIFA World Cups and AFC Asian Cups have inspired millions across the globe, but it is in Australia, where Tim is a household name."

Cahill was featured in just one match at the World Cup in Russia as he came off the bench in Australia's 2-0 defeat at the hands of Peru in their final group-stage game. It was his only World Cup where he failed to score a goal.

The former Everton forward also scored for Australia in all three AFC Asian Cup tournaments he played in, helping his side claim their maiden title in 2015.

FFA Chief David Gallop AM echoed Lowy’s sentiments, saying the FFA would look for an appropriate opportunity to recognise Cahill’s contribution on home soil.

“Tim is a genuine legend of our game and for a long time has been a great ambassador for football," Gallop said.

"I am sure all football fans will want to find a way to thank him for everything he has done in the green and gold and we’ll discuss that with him in the coming days."