World Rugby says Australia could become "the heart of the rugby universe" by hosting the men's and women's World Cups respectively in 2027 and 2029.
Australia already is expected to host the 2027 men's tournament after principal rival the United States indicated it would re-focus its bid on the 2031 World Cup. The host announcement will be made by the world body in May.
World Rugby chief executive Alan Gilpin on Monday announced Australia as preferred host of the 2029 women's World Cup, meaning it could host both showcase events back-to-back.
Australia also will host a tour by the British and Irish Lions in 2025.
Speaking in Sydney, Gilpin said the twin hosting rights would "cement the nation's status as being at the heart of the rugby universe for a three-year period.