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Home internationals are set to return to the fixture list as early as February 2008 but do not currently include England, BBC Sport understands.
Scotland, Wales, Northern Ireland and the Republic of Ireland will announce their participation in a new competition, called the Celtic Cup.
The quartet would play fixtures in February and March with the conclusion to the competition coming in May.
England have about a week to come to an agreement if they wish to take part.
The Celtic Cup remains subject to confirmation but it is likely to be played every two years.
The competition would have a similar format to the old Home Championship which was staged every year until 1984.
Matches between England, Scotland, Wales and Northern Ireland were eventually scrapped because of increasing fixture congestion.
Prime Minister Gordon Brown said he would welcome the revival of home internationals to ease the pain of Euro 2008 misery for the four home nations.
England's defeat by Croatia, following the failures of Scotland, Northern Ireland and Wales triggered calls for the sides to face each other in 2008.
"I would certainly enjoy that. I've got great memories from the 1960s and 70s," Brown said.
SFA chief executive Gordon Smith has said he is in favour of the move.
It is the first time since 1994 that no home nations have qualified for a major tournament.
Some people have called for a revival of the home internationals - I would enjoy that
Scotland battled valiantly but finished third in a group including Italy and France, while Northern Ireland's fate was sealed when they were beaten in Spain on Wednesday.
Wales's campaign was in tatters after a string of early defeats.
The prime minister said it was "desperately disappointing", adding: "In some cases that's down to bad luck. In some it's bad results.
"I know every football fan in Britain was looking forward to a summer of football next year, so it's very disappointing."
Brown added: "I know some people have called for a one-off revival next year of the Home Internationals.
"That's something for the football associations and clubs to consider."
Scotland, Wales, Northern Ireland and the Republic of Ireland will announce their participation in a new competition, called the Celtic Cup.
The quartet would play fixtures in February and March with the conclusion to the competition coming in May.
England have about a week to come to an agreement if they wish to take part.
The Celtic Cup remains subject to confirmation but it is likely to be played every two years.
The competition would have a similar format to the old Home Championship which was staged every year until 1984.
Matches between England, Scotland, Wales and Northern Ireland were eventually scrapped because of increasing fixture congestion.
Prime Minister Gordon Brown said he would welcome the revival of home internationals to ease the pain of Euro 2008 misery for the four home nations.
England's defeat by Croatia, following the failures of Scotland, Northern Ireland and Wales triggered calls for the sides to face each other in 2008.
"I would certainly enjoy that. I've got great memories from the 1960s and 70s," Brown said.
SFA chief executive Gordon Smith has said he is in favour of the move.
It is the first time since 1994 that no home nations have qualified for a major tournament.
Some people have called for a revival of the home internationals - I would enjoy that
Scotland battled valiantly but finished third in a group including Italy and France, while Northern Ireland's fate was sealed when they were beaten in Spain on Wednesday.
Wales's campaign was in tatters after a string of early defeats.
The prime minister said it was "desperately disappointing", adding: "In some cases that's down to bad luck. In some it's bad results.
"I know every football fan in Britain was looking forward to a summer of football next year, so it's very disappointing."
Brown added: "I know some people have called for a one-off revival next year of the Home Internationals.
"That's something for the football associations and clubs to consider."
Either move Mcfadden there, or Mcgeady/Duff. Bellamy is a better player than Healy by a fair bit for me, even if he has a great record for n.ireland.
Can't wait for this one. Hopefully England join so if they win it their media can call themselves "best team in the world" just like in the past with these little tourneys. Aaaaaaahhh the good ol' days.