The party's vice-president, Pat Doherty, and veteran republican Rita O'Hare have been tasked with examining the reasons behind Sinn Fein's failure to secure more seats at the Dail.

The high-ranking members will also examine the party's electoral strategy and how republicans can avoid a similar result in the 2009 local government and European elections.

Although Sinn Fein's vote went from 6.5% in the 2002 election, to 6.9%, the party still lost a seat.

Gerry Adams confirmed in an interview with Sinn Fein paper An Phoblacht that a post-election review had been initiated.

The west Belfast MP said: "Rita O'Hare and Pat Doherty have been put in charge of producing both a critique of the Sinn Féin election campaign and a broader analysis of the General Election and the failure of Sinn Féin to make advances.

"The Ard Chomhairle will be meeting on Saturday, 9 June and internal party meetings will be held in the coming weeks.

"It is important that space is allowed for everyone within the party to participate in this discussion but this period of internal analysis should not be unnecessarily protracted.

"As well as this formal review I would encourage anyone who wishes to, to write to our National Election department. We need to do things differently from here on in.

"The focus of these discussions, in learning lessons and how to correct mistakes, must be to agree on how we advance the cause of republicanism in the 26 counties. There needs to be a consensus on how this can be accomplished and a consensus also on the nature of social and political forces in this state."

The Sinn Fein leader believes his party lost ground because the election became a "referendum" on Bertie Ahern.

He added: "Like many of the other parties we were squeezed when the election became a referendum on who would be Taoiseach.

"We succeeded in making ourselves relevant until the election came down to a referendum on Bertie Ahern. It was then a contest between him and Enda Kenny. Everyone else lost out.

"But we need to look at all of this and I don't want to pre-empt any discussions, which will take place within the party."

Sinn Fein was also dealt a huge blow after key negotiator Mary Lou McDonald lost ground in Bertie Ahern's home constituency.

The final share of the vote was also considerably down from the 2004 local government elections, and lower than the polls had indicated.