The younger Klitschko, who has won 61 of his 64 professional contests, has a legitimate claim to the belt as he holds the IBF, WBA and WBO titles, and has looked nigh-on unbeatable for nearly a decade, with his last defeat coming in 2004 against Lamon Brewster.
He made his 15th world title defence with a comprehensive points victory over the previously unbeaten Alexander Povetkin in his last outing in October, and many have suggested the only legitimate threat to his domination of the division was his elder sibling.
The two Klitschkos had refused to fight each other on numerous occasions, but Vitali's decision to step away from boxing and focus on politics means Wladimir can become the first heavyweight boxer to hold all four of what are considered to be the major belts.
"It is of course my goal to win the WBC title back for the Klitschko family," said Wladimir.
The Ukrainian's hopes of completing his set in early 2014 could be derailed by the WBO's ruling earlier this month that Wladimir had 30 days to negotiate a fight with mandatory challenger Alex Leapeal
Vitali was earlier this week appointed "champion emeritus" by the WBC and although the 42-year-old has not ruled out fighting again for his title, he admitted it was unlikely.