The organisers of the 2028 Los Angeles Olympics on Monday formally recommended that cricket be included in its program.
In a statement, LA28 listed the Twenty20 version of cricket as one of the proposed 'new' sports alongside baseball/softball, flag football, lacrosse and squash.
There is no room though for breaking, which will make its Olympic debut at the 2024 Paris Games.
The choice of the sports still needs approval from the International Olympic Committee (IOC).
If cricket makes the cut, it would be the first time it has featured since 1900, when a team from Britain beat a side representing France in Paris.
The final choice of which sports are retained for LA28 will be voted on at the IOC Session next Monday in Mumbai.
The International Cricket Council welcomed the decision to propose cricket.
ICC Chairman Greg Barclay said: "We are delighted that LA28 have recommended cricket for inclusion in the Olympics.
"Whilst this is not the final decision, it is a very significant landmark towards seeing cricket at the Olympics for the first time in more than a century."
The ICC's proposal is for men's and women's Twenty20 competitions — the shortest form of the international game at 20 overs per side.