Belfast City Council's leisure and parks committee has rejected all existing proposals for a national stadium in Ormeau Park.
But it says the concept of a stadium at the park has not been ruled out entirely.
Two private developers had already made proposals for the site in the south of the city.
The committee said it would continue to look at a business case for a stadium to be built in the city.
Chairman, Councillor Bob Stoker, said a decision is expected by the end of the year. "Some councillors have pointed out that we didn't examine all the alternatives in great detail," he said.
"So we can't accuse the Department of Culture, Arts and Leisure of doing one thing and we're doing exactly the same, so we wanted to make sure this is right for the city and right for sport.
"We're re-examining all of the sites in Belfast, all of the options as well, which may include a new stadium or it may include the upgrade of Windsor Park, Casement Park or Ravenhill."
Mr Stoker added that the two developers who had already made proposals "are quite at liberty to come back again after we have examined all of the potential sites".
The committee's decision has to be ratified by the full council at a meeting next month.
It is envisaged that Gaelic sports, soccer and rugby would all be played at any future stadium.
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