In an exclusive interview with SMH, Folau gave a defiant response to the Rugby Australia sanction.
Comments made by Israel Folau on Instagram and Twitter have been widely condemned since he made them last week.
The 30-year-old had 48 hours to ask for the hearing or accept being sacked.
"Rugby Australia will now make arrangements with the Rugby Union Players' Association (RUPA) to bring together the Code of Conduct hearing", the statement read.
"Israel has responded formally today to request a code of conduct hearing which, under the circumstances, was not an unexpected outcome", said RA CEO Raelene Castle.
But following Folau's latest comments, Rugby Australia made it clear his presence in the sport was no longer tenable, while Wallabies coach Michael Cheika declared that he would not pick the player, who just two weeks ago became the leading try-scorer in Super Rugby.
"I share it [the social media post] with love".
Israel Folau will appeal Rugby Australia's decision to serve him with a breach notice for his recent posts on social media.
"Given the history, and as Folau is a public figure, RA is likely to have grounds for taking disciplinary action which may include termination of his contract". The body has to weigh up the fact that it's a World Cup year with the fact Folau was seriously cautioned last year for essentially doing the exact same thing.
Owens said the controversy would not affect the way he referee players such as Folau and Vunipola.
On Sunday he struck a different tone when he told the Sydney Morning Herald that he was ready for life without rugby, saying, "I live for God now".
A return to the NRL has also been ruled out after ARL Commission chairman Peter Beattie told the Daily Telegraph Folau "doesn't pass our inclusiveness test" and that the organisation "wouldn't support him playing rugby league again". But I'd also like him to understand and respect that this is who I am, and I'm glad rugby has allowed me to be who I am.
"I will referee the game that is in front of me and I will treat every player on that field with respect", he said. "Reading what he said after it, there's no apology, I just can't see a way back for him and I think that's quite sad to be honest with you".