The retail billionaire and Football Federation Australia chairman will serve a four-year term as the 31st member of the panel which oversees the 2010 tournament in South Africa.

“I am very honoured to be appointed to this important FIFA Committee,” Mr Lowy said.

“It is a privilege for me personally to be able to contribute to the organisation of the world’s biggest football tournament.

“But, more importantly, it is wonderful recognition of the growing credibility and reputation of Australia within the global football community.”

Mr Lowy said that the FIFA Congress held in Sydney in May also enhanced Australia’s reputation.

“We have had nothing but praise for the organisation and staging of the FIFA Congress from delegates from around the world.

“On the world sporting stage, there is no event with the same level of global appeal or audience reach as the FIFA World Cup, and there is no other sport which engages so many people from so many nations around the world facilitating a deeper level of engagement with individuals, businesses and nations.”

The term of the appointment is for four years.

Lowy enters the inner circle of football's world governing body at a time when Australia is preparing a bid to host the World Cup in 2018 or 2022.

The Federal Government has promised $60 million Australian dollars to fund a bid that would be guided by the FFA.

World Cup hosts are chosen by the FIFA executive committee chaired by president Sepp Blatter.

Blatter said at the FIFA Congress held in Sydney last May that the 2018 tournament would likely be held in the northern hemisphere, after the 2010 event in South Africa and 2014 in Brazil.

But he suggested that the 2022 World Cup would "perhaps be more preferable" for Australia to target - although Lowy is said to be determined to focus on 2018.

Other countries hoping to host the 2018 World Cup include Mexico, the United States, England, Spain, Netherlands-Belgium, Russia, Qatar, China and Japan.