Federici, 25, says the Italian FA have written to him to see if he would consider quitting Australia to play for them.
Federici starred at the 2008 Olympics for the Socceroos but has an Italian passport and FIFA rules will allow him to swap.
He said: "I am stunned. Playing for Italy never crossed my mind.
"But to be contacted by the world champions in the run up to the World Cup is pretty incredible."
Federici has also played at Under-20 and Under-23 level for the Aussies and was born Down Under to Italian parents.
But he has not played in an A-grade tournament, which means he is able to switch countries.
Federici is back-up to Oz No 1 Mark Schwarzer and is now at an international crossroads.
If he plays one game for the Aussies at the World Cup he would be committed to them for good.