The continent has never staged an Olympic Games. Cairo last made an unsuccessful bid for the 2008 Olympics.
The most populous country in the Arab world, Egypt has spent billions of dollars building facilities, stadiums and sports complexes in recent years as part of its plans to modernise the country.
The Egypt International Olympic City complex in the new administrative capital the country has been building east of Cairo since 2015 is expected to have a 93,900-capacity national stadium and 21 other sports facilities.
"Egypt will bid for 2036 and 2040," Mustapha Berraf, head of ANOCA told a press conference on the day of the closing ceremony of the Paris Olympics.
The Algerian sports administrator said another African bid could potentially materialise with South Africa's Cape Town considering an Olympic candidacy. He did not say for which Games it would bid, though.
"Africa has the chance of organising the Games. It will most likely organise the Games in 2040," said Berraf, who is also an International Olympic Committee member.
"There is a need to look at infrastructure issues such as roads, airports. Egypt has important infrastructure potential."
Los Angeles will host the 2028 Summer Games while Australia's Brisbane is preparing to stage the 2032 Olympics.
There are already several countries and cities interested in bidding for the 2036 Olympics including Indonesia, India, Turkey as well as Qatar and Saudi Arabia.
International Olympic Committee President Thomas Bach has said interest for 2036 has so far attracted cities in the double digits.
