Councillors will consider a report highlighting the potential benefits the accolade would bring to the city, which is known for its strength in the computer games industry and for the forthcoming multimillion-pound V&A building.
Dundee will also try to win the title on the strength of Dundee Rep theatre, with its national awards and pioneering community programme, the popularity of Dundee Contemporary Arts and its cutting-edge exhibits, along with The McManus, the art gallery and museum that has recently shown a display of Leonardo drawings.
The universities of Dundee and Abertay and Dundee Heritage Trust will also be part of the bid.
Councillor Ken Guild, leader of the city's council, said he believes Dundee is ready to launch a serious bid for the cultural title.
He said: "There has never been a better time for Dundee to stake a claim to be UK City of Culture."