Libya pulled out last week because of ongoing fighting in the country that has delayed plans to build new stadiums for the 16-team tournament.
Ethiopia, who hosted the tournament in 1962, 1968 and 1976, say they will submit their proposal immediately.
Ethiopia Football Federation president Junedin Basha said "We already have two ready venues, the Addis Ababa and the Bahir Dar stadiums, and the construction of the other venues has also reached to a good level.
"Our government is ready and interested to do everything it can to bring the tournament back to Ethiopia."
Kenya said in a statement that they are also considering a joint bid with Tanzania or Uganda or Rwanda.
And later on Tuesday, Ghana sports minister wrote on his twitter page "I am happy to announce that Ghana will bid to host the 2017 Africa Cup of Nations."
The Confederation of African Football has set a deadline of 30 September for countries to express their interest in hosting the tournament.
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Ethiopia, Kenya & Ghana bid to host 2017 Africa Cup of Nations
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