The party's Sports Spokesperson, Justin McNulty, said the decision should refocus efforts to begin work on the long-awaited project in west Belfast.
He said once completed it had the potential to be transformational for the local area.
Newry & Armagh MLA Mr McNulty said: "I'm delighted that Casement Park has been officially confirmed as part of Britain and Ireland's joint bid to host Euro 2028. While I appreciate that we still have some way to go for the stadium to be ready in time for the tournament, I would hope that the potential for it to be involved in a sporting event of this magnitude would refocus minds and spur on efforts to begin work at Casement.
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"This project has been in the pipeline for many, many years and it's time that we get a concrete plan on when we can expect work to begin. I am proud of the role the SDLP played in driving this project forward while in government and it's imperative that we don't miss out on this once in a lifetime opportunity to bring the European Championships to the North and Belfast. Political failure cannot be used as an excuse for this important work not being carried out.
"The newly built Casement Park is key not just for the Euros bid, but it will be the new home for the GAA in Ulster. As a truly world class sporting, concert and event venue in the heart of Belfast it also has the opportunity to be completely transformative for the surrounding area, creating jobs and driving investment in a community that is crying out for it."
