The Fulham star is preparing to make his 87th appearance in the Socceroo's AFC Asian Cup semi-final against Uzbekistan, matching the feat of Alex Tobin, who played between 1988 and 1998. Tobin was in the Australian side when Schwarzer made his debut against Canada in 1993.
The 38-year-old will almost certainly break the record even if they lose, with either the final or a third-place play-off match on the horizon.
"It'll be a fantastic honour to match him," said Schwarzer. "He is a fantastic servant still to the game today. He was a great player for the Socceroos and I made my debut in the national team when he was playing, so there's a bit of history there as well between the two of us. He's such a gentleman and it'll be an honour to be on the same amount of games as him."
Schwarzer has no immediate plans to retire and could conceivably take his international caps beyond a century. Current Socceroo stars Brett Emerton and captain Lucas Neill are also near the top of their country's all-time appearance list, with 81 caps and 68 caps respectively.