Cardiff could become one of the host cities for Euro 2020 with doubts over a new stadium being built in Brussels being ready on time.
The FAW lost out in the original bidding process in 2014 when UEFA chose 13 cities across Europe to mark the 60th anniversary of the first European Championship.
But concerns over Belgium's 60,000-capacity Eurostadium project -- the proposed new stadium, just north of the capital Brussels, has yet to be built -- means that Cardiff is back in the running to stage matches.
Cardiff's Principality Stadium, plus Wembley -- which will host the final and semi-finals of Euro 2020 -- and Swedish capital Stockholm are also being considered as UEFA start a process of selecting a possible replacement city.
"Naturally the FAW are delighted to be given this opportunity,'' FAW chief executive Jonathan Ford said in a statement. "We will work hard to once again produce a strong case for the games to be played in Cardiff and will use the experience of the Champions League to demonstrate what a success we will make of hosting these matches.
"It would be fantastic for Welsh football to not only qualify for the Euro 2020 finals but also to stage some of the key matches.''
UEFA has said it has "requested that all relevant permits to start construction, as well as a realistic and guaranteed construction schedule, be obtained by 20 November 2017," and that it will make a final decision on Dec. 7.
The Belgian Football Association met last week with UEFA, local government officials and the construction company due to build the Eurostadium to discuss the project.
"We still believe, but we are realistic that it's depending on other parties,'' Belgian FA secretary general Koen de Brabander told reporters on Tuesday. "We as a federation are not in the lead to take decisions.''
Hampden Park in Glasgow and Dublin's Aviva Stadium will both stage three group games and a round of 16 match at Euro 2020.
But the Welsh were left empty handed three years ago when Cardiff's bid was beaten by a single ranking point by the Scots.
The quarterfinals and three group matches will be held in Munich, Baku, Roma and St Petersburg. The other host cities, which will hold three group games and a last-16 game, are Copenhagen, Bucharest, Amsterdam, Bilbao and Budapest.
Brussels was also awarded three group matches and a round-of-16 game.