Organisers of the Grand Slam announced on Tuesday the Million Dollar 1 Point Slam will pit ten amateur players from across Australia against an elite field of 22 professionals headlined by world number one Carlos Alcaraz, with the winner pocketing $1 million.
The event, part of the expanded opening week of the major, features an elimination draw with 'rock, paper, scissors' used to determine who will serve or receive, and the winner of the point going through to the next round.
It proved hugely popular among fans after its introduction at this year's tournament in January, with some of the amateurs toppling more fancied opponents, before Australian professional Omar Jasika won the event to claim the $60,000 prize.
With the stakes now much higher, qualifying will take place across Australia and at the major, with the final to be played at the iconic Rod Laver Arena.
"With more big names to be announced soon, you now have a million reasons to pick up a racket and get ready for January," Australian Open Tournament Director Craig Tiley said.
Tiley added that the first of the three weeks of the Grand Slam, from January 12-17, will be open with free entry for kids, and live music lighting up Grand Slam Oval every night.
Both men's and women's doubles finals will be played on the afternoon of the final Saturday on the main showcourt.
The main draw runs from January 18 to February 1.