Snyder said on Friday that the team planned to canvas opinion from across the community in its name change review.
"This process allows the team to take into account not only the proud tradition and history of the franchise but also input from our alumni, the organization, sponsors, the NFL and the local community it is proud to represent on and off the field," Snyder said.
NFL commissioner Roger Goodell welcomed the move, revealing the league had been engaged in extensive discussions with Washington about the matter.
"In the last few weeks we have had ongoing discussions with Dan and we are supportive of this important step," Goodell said in a statement.
Washington head coach Ron Rivera, one of only a handful of minority head coaches in the NFL, also expressed support.
"This issue is of personal importance to me and I look forward to working closely with Dan Snyder to make sure we continue the mission of honoring and supporting Native Americans and our Military," Rivera said in a statement.