The monarch's visit will coincide with a major event
The King is expected to make his first trip to Australia and New Zealand as monarch later this year.
The visit will reportedly take place as part of a long-haul trip in October, when King Charles and Queen Camilla attend the Commonwealth Heads of Government Meeting (CHOGM) in Samoa.
A government spokesman told newspaper that "the prime minister enjoys a warm relationship with the King and looks forward to welcoming His Majesty to Australia later this year".
The summit, which takes place every two years and includes the 56 Commonwealth member nations, is scheduled to start on 21 October 2024.
Buckingham Palace is yet to formally announce a visit.
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Charles and Camilla last visited Australia in 2018, when they represented the late Queen Elizabeth II at the Commonwealth Games.
The pair's last trip to New Zealand was in November 2019, including engagements in Christchurch and Auckland.
The late Queen Elizabeth II made 16 visits to Australia during her reign, each accompanied by the late Duke of Edinburgh.
She first visited as monarch in 1954, having stopped in New Zealand en route, with the final one in October 2011.
The royal couple’s last visit to New Zealand marked her Golden Jubilee in 2002.
Australian prime minister Anthony Albanese was among the world leaders to attend the King's coronation at Westminster Abbey in London in May 2023.
Since their reign began in September 2022, King Charles and Queen Camilla have carried out state visits to Germany, France and Kenya.
Charles has also travelled solo to Romania and most recently, Dubai in the United Arab Emirates, to attend COP28.
The King and Queen spent Christmas break at their Sandringham estate in Norfolk, where they were joined by members of the royal family, including the Prince and Princess of Wales and their three children.
According to , Charles will shortly travel to his Scottish home, Birkhall, on the Balmoral estate in Scotland.
The late Queen would traditionally spend her winter break at Sandringham until the anniversary of her father King George VI's death had passed on 6 February.
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