Plans are now in motion which could see a memorial erected on Much Wenlock's High Street- the town council decided to support the plan following a meeting earlier this month.
The Mayflower was an English ship that famously transported the first English Puritans, known today as the Pilgrims, from Plymouth to America in 1620.
Much Wenlock has strong connections with the voyage after four More children from Larden Hall, Much Wenlock, sailed on the ship amid a 17th century scandal involving adultery and disgrace.
"In 2020 there'll be celebrations going on all over the country," explained Mike Brogden, secretary for Shropshire's Mayflower Children group.
He added: "We were inquiring with Much Wenlock council regarding plans for a monument, to mark 400 years since the voyage and they've decided to support the plans.
"We now need to get ideas and costings together. The monument could be a plaque or it could be free standing."
The Mayflower was bound for the New World and the 102 passengers founded the first permanent European settlement in New England, making the voyage an important event in American history.
The passengers were both religious freethinkers and adventurers, but the four Shropshire children aboard were in a different category, having been banished off after a marital dispute.
Only one child, Richard More, survived the long journey, his other siblings died before reaching America.
More than a million Americans are predicted to head for Britain for the 400th anniversary of the epic voyage which laid the foundations of modern America.
Mike added: "The monument would definitely be a point of interest, a number of residents in Much Wenlock don't know this story yet.
"I don't think there's anything in the Much Wenlock museum about this story yet either- we'd like to change that.
"Shropshire's May Flower group will be organising a a series of events throughout 2020 including a history day, a guided walk and so on."