Mancini has firmed as favourite in Sportsbet's odds over the next Socceroos boss, rising to $1.83 to land the job over next-best Van Marwijk at $3.10. 

The Italian is a three-time Serie A winner as manager, in addition to winning the 2011/12 Premier League title with Manchester City.

Graham Arnold was the leading candidate, but recently confirmed he would not be the next Socceroos coach. 

There were reports that Mancini's wage demands would be too high for FFA's budget and that Bert Van Marwijk would be willing to accept a lower salary.

Mancini has also been typecasted as implementing a very defensive style in his previous roles, however his stellar European reputation may be a factor in the governing body's decision.