The announcement was made by the Prime Minister of Australia, The Hon. Malcolm Turnbull MP and FFA chairman Steven Lowy AM in the Great Hall at Parliament House, Canberra with the support of the Federal Minster for Sport, The Hon Greg Hunt MP and The Federal Minister for Women, Senator the Hon Michaelia Cash.

The Australian Federal Government also announced that they will provide FFA with financial support in the form of initial funding to the value of $1 million with the balance of $4m to be granted following fulfillment of designated criteria and milestones.

Australia, Japan, New Zealand, Thailand and South Korea have all confirmed their interests in potentially hosting the 24-team tournament which includes 5.

According to News Corp, Melbourne, Sydney, Brisbane, Adelaide, Perth and Canberra would be the potential home cities for games.

FFA CEO David Gallop flagged the potential to bid for the 2023 event two years ago following the successful 2015 Asian Cup hosted in Australia.

Australian Prime Minister Malcolm Turnbull has now confirmed the federal government’s support in the Herald Sun.

"I am delighted we are supporting a bid for the 2023 Women's World Cup,'' Turnbull said.

"The Matildas are wonderful role models for young women and girls right across Australia.

"It would be fantastic to have the Matildas playing to win the Women's World Cup on home soil.

“We are a sporting nation, recognised internationally for our sporting achievements and for showcasing some of the biggest sporting events in the world.

“Women’s sport in Australia has moved forward in leaps and bounds. Staging the 2023 Women’s World Cup will continue this momentum.”

All bids are due by late 2018, with FIFA to decide the host in early 2019.

FFA chairman Steven Lowy added: “This is the largest, most prestigious and most competitive contest in a women’s sport globally.

“We want to win the right to host it and then win the tournament itself.

“The benefits to Australia are many and varied with major economic impact to the wider community and, most importantly, a massive increase in exposure and investment in women’s football.

“A FIFA Women’s World Cup in Australia would inspire a whole new generation of girls and women to take up the biggest participation sport in Australia, for many with the dream of winning the World Cup on home soil.”

Canada hosted last year's Women's World Cup where the Matildas reached the quarter-finals. France will host the event in 2019.