If the bid is successful, 2030 will be the first World Cup in England for 64 years, and the first major tournament for 34 years.
The governing body's board has agreed to conduct "feasibility work" on a potential bid.
If the bid is successful, 2030 would be the first World Cup in England for 64 years and the first major tournament for 34 years (the semi-finals and final of Euro 2020 are at Wembley).
The UK government has said it would support a joint bid led by England.
Any bid would need to secure the nomination of UEFA and the support of a majority of FIFA's 211 member nations.
If they it decides to go ahead, the FA will be up against Argentina, Uruguay and Paraguay, which will be bidding jointly for 2030.
Morocco, which has also said it will bid, could apply jointly with Tunisia and Algeria.
England wanted to host this year's World Cup, but were beaten by Russia.
The 2030 tournament is expected to be the same format as the 2026 World Cup in the US, Canada & Mexico - 48 teams and 80 games.
"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."
The FA has distanced itself from suggestions it should host the 2022 World Cup in the unlikely event that Qatar loses the right to host the tournament.
Former FA chairman Lord Triesman said on Sunday that FIFA should reconsider England if Qatar is found to have broken bidding rules.
But Mr Clarke said: "FIFA has chosen Qatar to host the 2022 World Cup and they have a duty to investigate any issues around the process that are rightly thrown into question.
"Russia did a brilliant job hosting the 2018 World Cup and we support the rotation of World Cup hosting among the confederations.
"That would make the 2030 World Cup the next one a European nation might be able to host, and not before.
"Anyone suggesting otherwise is acting disrespectfully to our global game and does not speak for the English FA."