Sports Minister John O'Donoghue has said that Ireland is capable of producing better athletes if the necessary funding and resources are in place.
"What we should be aiming for is to have between six and nine finalists in the Olympics and up to 12 in the Paralympics," he said.
"That is not going to be an easy task, because it means that we have to have athletes who are among the top 10 in their disciplines in the world.
"I think that it is possible for us to do that, but we are going to have to continue with the kind of investment which we've had in recent years."
Mr O'Donoghue was speaking at the launch of a review of Ireland's performance at the Olympic and Paralympic Game sin Athens last year.
The review recommended continued Government investment in athletics and the establishment of an Institute of Sport.