The FA has linked with Codemasters to develop the game, England International Football, which will launch in the run-up to Euro 2004 on the PlayStation 2 and Xbox consoles.
It will be the first football game to make use of Xbox's online gaming service, Xbox Live, which enables gamers across the world to play against each other via broadband.
Xbox Live was launched more than a year ago and has been hailed as the future of the console gaming market. However, take-up of Live and PlayStation 2's rival network gaming service has been slow.
Codemasters is planning a multi-million-pound marketing push to support the game, although details of the campaign have yet to be finalised. It is likely to include specific activity around Euro 2004.
Mercier Gray is Codemasters' ad agency, but it would not confirm whether it would develop the launch campaign.
Six years ago, BMG published an official England team game, Three Lions, on PSone and PCs, to coincide with the 1998 World Cup.