Richard Caborn believes if the Football Association bids for the 2018 World Cup to be held in England it will be a "formidable" proposal.
The last time England hosted the World Cup was in 1966
The former Sports Minister is now an ambassador for a possible bid, which also depends on Fifa picking Europe.
"Prime Minister Gordon Brown said the FA will get full support," Caborn told BBC Five Live's Sportsweek programme.
"I think the FA will go for it and it would be a formidable bid. It could be a golden age for sport in Britain."
He added: "In one decade, we may see the World Cup take place on these shores six years after the Olympics."
However, Sheffield central MP Caborn conceded the campaign may not even get off the ground if a major decision by football's world governing body Fifa goes against England.
"Fifa will determine which continent the 2018 World Cup will go to in November," he said.
"We are hoping Fifa chooses Europe and we will be working hard to persuade the governing body.
"There has been an unwritten rule that every third World Cup comes to Europe."
South Africa will host the 2010 World Cup, while Brazil look set to win the rights to stage the 2014 event.
England won the World Cup as hosts in 1966.