The Russian Black Sea resort of Sochi will bid for the 2014 Winter Olympics.
The unanimous decision of the Russian Olympic Committee to bid comes less than three weeks after Moscow failed in its bid to host the 2012 Summer Games.
Nine other cities, including South Korea's Pyeongchang and Austria's Salzburg have already expressed their interest in hosting the 2014 Games.
The IOC deadline for applications is Thursday with a final decision to be made in July 2007.
Salt Lake City staged the 2002 Winter Olympics, while Turin will host next year's Games and Vancouver is the 2010 venue.
London was chosen to host the 2012 Summer Olympics earlier this month, beating Paris, Madrid, New York and Moscow.
ROC president Leonid Tyagachyov said: "This is not a dead project. We have government guarantees, we have great support from local officials and the people of Sochi.
"So I think this could be the start of something great. We just need to get to work right away and not waste any time."
Among the other cities interested in hosting the 2014 Winter Games are Bulgarian capital Sofia, China's Harbin, Sweden's Ostersund, the Spanish city of Jaca, Georgia's Borjomi, Munich in Germany and Kazakhstan's largest city Almaty.