The Football Association will carry out "feasibility work" to see how a potential bid could be put together with a decision made next on year on whether to go ahead.
"Last month the English FA board agreed to conduct feasibility work into the possibility of putting itself forward to be UEFA's potential candidate to host the 2030 FIFA World Cup," said FA chairman Greg Clarke.
"This work will take place during the new season and no decision will be made until 2019."
England have not hosted the World Cup finals since 1966 when they won the old Jules Rimet trophy, but have since hosted Euro '96. The new Wembley will be used to host the Euro 2020 semi-finals and final.
England unsuccessfully bid for the 2018 World Cup finals, losing out to Russia in 2010, with the 2022 event controversially awarded to Qatar.
The UK government will support an England bid, but there remains a potential for the finals to be shared with Scotland, Wales, Northern Ireland and the Republic of Ireland possible host countries for the new 48-team tournament which will stage 80 matches.
A general view is pictured during the English Premier League football match between Tottenham Hotspur and Arsenal at Wembley Stadium in London, on February 10, 2018
Image credit: Getty Images
UEFA would need to nominate England alongside a majority of the 211 countries in FIFA.
England will face competition from Argentina, Uruguay and Paraguay for 2030 with Morocco, Tunisia and Algeria also considering a joint bid.
The 2026 finals will be staged by the US, Canada and Mexico.