Fine Gael has said Irish troops should participate in the new EU "battle groups" mooted by the UN Secretary-General, Mr Kofi Annan.
Mr Billy Timmins, Fine Gael defence spokesman, said this may be the only way to guarantee Irish involvement in peacekeeping missions in the long run.
Earlier, the Minister for Defence, Mr O'Dea, said the Government had not decided if it would participate in battle groups, but it would not consider sending troops to Iraq on individual missions until the situation was "much more stabilised than it is now".
Mr Timmins said UN peacekeeping was evolving and there was a very real danger that Ireland would be left behind if it did not get involved.
The UN is moving towards a situation whereby it contracts peacekeeping groups, or battle groups, from regional blocs such as the EU or Africa.
"Yet Minister O'Dea insists on taking a non-committal approach to peacekeeping which could jeopardise future involvement in peacekeeping," Mr Timmins said.
He said the Government should also look at setting up its own EU battle group as a separate entity.
"Some countries may choose to co-operate between themselves, but in Ireland's case the State has enough experience and kudos to form its own unit," Mr Timmins said.
The Green Party has already said that it will be voting against sending Irish troops to Iraq.
Mr John Gormley, its foreign affairs spokesman, said participation in battle groups would be "ill-advised" and would damage Ireland's international reputation.