The reported that England coach Roy Hodgson has pencilled in the international against the Socceroos, which will be played in either Newcastle or Sunderland, and act as a pivotal warm-up to The Three Lions' EURO 2016 campaign.
Likewise, the clash will be vital for Australia and coach Ange Postecoglou, as it will be one of their last internationals prior to the third and final qualification phase for the 2018 FIFA World Cup.
The match will pit both countries' all-time leading goalscorers against each other, with Australia's Tim Cahill set to face off with England's Wayne Rooney.
In their last meeting on 12 February 2003, the Socceroos shocked England 3-1 at London's Upton Park.
Football Federation Australia confirmed that discussions with the English Football Association had taken place for May's international.