A bid is being drawn up to secure city status for Reading as part of the Queen's Platinum Jubilee next year.
Reading Borough Council said the town's "economic and culture strength" and "historic links to royalty" put it in a strong position.
As part of a jubilee competition for the first time in 10 years, towns will be able to compete for city status.
The authority said the change would boost Reading's tourism industry and economic recovery.
Council leader Jason Brock said: "This bid for city status is an opportunity for us to celebrate everything that we know is great about Reading.
"Many people already mistake Reading for a city, which is understandable given its economic strength and connectivity in terms of transport links, its unique cultural offer and strong sense of historic identity."
He added the council would reach out to communities, businesses and organisations to build the "strongest bid possible".
The local authority said it aimed to agree Reading's submission in the autumn and submit it ahead of the government's 8 December deadline.
Reading failed in its bid to become a city in its last attempt in 2012.
Other towns to have launched bids for city status include Swindon and Medway.
Recommendations will be made by ministers to the Queen, and the number of awards will depend on the strength of the applications received.