The Flinders Ranges, about 400km north of Adelaide, have been nominated to join the Great Barrier Reef and Uluru among Australia's globally recognised natural wonders.
A swathe of land covering more than 58,000 hectares across three national parks will be considered by UNESCO.
A decision on whether the area will be enshrined could come as soon as 2027.
The spotlight has intensified on the rugged terrain, with the Flinders Ranges the only Australian site to make this year's Lonely Planet list for the world's top places to visit.
The ranges are unique as a place where the emergence of earth's first complex animals, between 672 and 510 million years ago, can be observed.
They also include the world's most comprehensive set of Ediacaran fossils.
"The test for whether something qualifies for World Heritage listing is that it must have outstanding universal value," federal Environment Minister Murray Watt told ABC News on Saturday.
"That global significance of the earliest animal life on earth warrants that World Heritage listing and the protection that comes from it."
It's not just prehistoric animals that would be better protected with a World Heritage listing - the site also houses a number of endangered native species.
The yellow-footed rock wallaby, western quoll and thick-billed grasswren would all benefit from the extra environmental protection.
UNESCO requires all World Heritage bids to be consented to by relevant First Nations communities before consideration.
In June, the Adnyamathanha Common Law Holders provided their blessing to the site's assessment for World Heritage status.
"Adnyamathanha people have made a major contribution ... by providing our cultural information so we are front and centre on the world stage," Elder Charles Jackson said.
"This contribution is crucial and represents an example of working together during a time when there is lots of division and challenges for Aboriginal people."
Former pastoral land was acquired to add an extra 4500 hectares to the Ikara-Flinders Ranges National Park and bolster the bid.
The nomination has been in the planning for 10 years, South Australian Environment Minister Lucy Hood said.
The 368-page submission comes with almost 4000 pages of supporting material.
"Gaining World Heritage status would rightly recognise the iconic tourist destination as a place you won't find anywhere else," Ms Hood said.
Inclusion on the prestigious list would likely stimulate economic benefits to the area by drawing more international tourists.
The federal government has not always seen eye-to-eye with UNESCO, having come under fire for the deteriorating condition of the Great Barrier Reef.
Senator Watt said he was working to ensure the UN committee did not place the reef on the endangered list.
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