Climate Change and Energy Minister Chris Bowen described the COP31 talks as important discussions and the world's biggest trade fair.
The international summit will take place in 2026.
"This is an opportunity - will be an opportunity, if we win the bid - to show Australia's capacity to help the world as a renewable energy powerhouse," he told reporters in Sydney on Saturday.
"We will seek to co-host the bid with the Pacific to help elevate the case of the Pacific for more climate action."
Mr Bowen said Australia considered bidding for COP29 in 2024 but decided against it, citing the time frame and global tensions.
The 2024 talks are earmarked for an eastern European nation, with the 2026 hosting rights reserved for western Europe and other countries.
"It's the right year for us," Mr Bowen said.
"I'm looking forward to talking to international colleagues about Australia's bid, about what we can bring to the table as a host of the world's biggest trade fair, as a host of COP in 2026."
Egypt is hosting this year's event, which begins on Sunday.
Mr Bowen will lead the Australian delegation alongside assistant minister Jenny McAllister and Pacific and International Development Minister Pat Conroy.
"It's an important opportunity to talk about what Australia brings to the table," Mr Bowen said.
"It's an important opportunity to help the rest of the world to take the next step forward."
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