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Published 13:53 22 Nov 2018 GMT
Updated 16:04 22 Nov 2018 GMT
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The Irish Sun claim that the association want to make a "swift appointment" - ideally before the draw for the Euro 2020 qualifiers on December 2 in Dublin - and McCarthy is at the top of their shortlist of candidates.
Dundalk manager Stephen Kenny is also said to be in contention, but all signs point towards McCarthy getting the job. The former Ireland captain has been out of work since leaving Ipswich Town in April.
McCarthy was Ireland manager between 1996 and 2002 when he had players such as Roy Keane, Robbie Keane, Damien Duff, Steve Staunton, Shay Given and Ian Harte at his disposal.
He helped the team qualify for the 2002 World Cup.
https://twitter.com/SportsJOEdotie/status/1065344988500975617
In club management, McCarthy helped Sunderland and Wolves earn promotion to the Premier League.
The Times' report claims that Robbie Keane will be part of the next management team, and is likely to be McCarthy's assistant. The pair enjoyed a good relationship when McCarthy was previously Ireland manager.
Former Ireland midfielder Lee Carsley is reportedly in the frame to become Ireland's new U21 manager.
Carsley earned 40 caps for Ireland is currently working as a coach with England U21s.
https://twitter.com/SportsJOEdotie/status/1065603792245350400
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