Researchers in Britain and Europe are poised to recruit thousands of people for large-scale trials which they hope will lead to widespread availability of the injection within five years, the Daily Express reported.
Professor John Oxford, Britain's leading expert on flu and the study's key researcher, said the vaccine has the potential to save thousands of lives a year.
Immunisation against flu viruses is difficult because they constantly evolve to develop resistance to vaccines.
However, according to Oxford, the aim of the universal jab is to protect people against all flu viruses even when they change.
The study was published by Public Health England and the London School of Hygiene and Tropical Medicine.