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The joint delegation unites the President of the Spanish Football Federation (RFEF) Angel Maria Villar and his Portuguese counterpart Gilberto Madail.
The pair travels to FIFA headquarters in Switzerland in the company of Spanish Secretary of State for Sport - Jaime Lissavetzky and the Portuguese Minister - Laurentino Dias.
There the delegation will hand over a letter highlighting the unity between the two countries in their wishes to host the World Cup and stressing the "magnificent service" they can do to the sport.
FIFA will make a decision on the venues in December 2010 and the joint Iberian bid will face stiff opposition.
England, Japan, Indonesia, Mexico, Qatar, Australia, the United States and Russia are all interested in hosting the World Cup.
However, following Madrid's failure to be chosen as the host city for the 2016 Olympic Games, the Spanish are certain to dedicate a huge effort in the attempt to host the finals.
The World cup was previously celebrated in the country in 1982,when Italy beat Germany 3-1 in the final which was played in Real Madrid's Santiago Bernabeu Stadium.