While admitting that England still have some way to go before matching the strength of Australia, who have held the Ashes without interruption since 1989, Vaughan said victory at home next year was a realistic aim.
"In 2005, it's an achievable goal," Vaughan said at the team's hotel in Barbados on Sunday.
"As players, we play every series to win, but this is what we all want, to win the Ashes back."
England's blend of youth and experience has gelled perfectly in the past month, with comprehensive victories in each of the first three Tests giving them a 3-0 lead over West Indies in the four-match series.
Despite the delight, Vaughan said he was realistic about their chances of beating Australia next year, saying that the 2006-07 tour could represent a better chance.
"We still have a long way to go before we become a fantastic team, which is what Australia are," Vaughan said.
"Australia have everything covered. They have seven batsmen averaging over 50, four or five world-class players and Shane Warne who has 500 Test wickets.
"Also, in 2005, several of Australia's senior players will probably be playing their last Ashes series and will be very motivated. To win in 2005 is achievable but is a big ask."
But Vaughan said he expected England to improve over the next couple of years.
"I think we're at about 60 percent of our potential at the moment," he said. "We are relatively inexperienced, particularly our bowlers.
"But if we can keep the same team and if we all stay fit, then someone like Simon Jones will have played 20 Tests by the time we play Australia, so that will make a big difference."
England take on New Zealand in a two-Test series at home in May and June, before another four-Test series against West Indies.
"I guess we'll see how far we've come when we play the Kiwis," Vaughan said. "They shouldn't be underestimated, they're a talented side, but I suppose we'll know in the next year how we're shaping up for 2005."
