Fraser, who flew here this week with her daughter, Dawn Lorraine, grandson Jackson and 15 other members of the 1964 Australian team, said: "I am extremely excited to be returning to Tokyo for the 50th anniversary of the 1964 Olympic Games, and to be able to share the 50th anniversary celebrations with my daughter and grandson."

Fraser's achievement in 1964 - at the age of 27 - was all the greater for the fact that, earlier in the year, she had been involved in a car crash which claimed the life of her mother and left her severely injured.

She spent nine weeks in a steel brace and, despite the tragedy and missing vital training, she became the first woman in the world to break the one minute barrier for the 100m in Tokyo.

Despite struggling with asthma and a cold, she won her semi-final in 59.5sec and the final in an Olympic record time.

"Having won three gold medals for the same event in 1964 was not only an enjoyment for me but also to be able to share that victory with my Olympic team mates was a very special time," Fraser said.

"Tokyo was a magnificent city and the Japanese people showed delight in having the Olympic Games in their city."

Dawn Fraser at the 1964 Tokyo Olympics with her 100m freestyle gold medal, with US silver and bronze medallists Sharon Stouder (left) and Kathy Ellis (right) ©AFP/Getty Images

But Fraser has mixed memories of Tokyo given the investigation into her behaviour in the Japanese capital by the Australian Swimming Union, who initially banned her for 10 years.

Although the ban was subsequently reduced to four years, it meant she had no time to try and win a fourth successive Olympic title at the 1968 Mexico Games.

As Fraser points out, many people assume that the ban was imposed as a result of her infamous jape in Tokyo when she stole the Olympic flag from its flagpole outside Emperor Hirohito's palace after a party on the final day of the Games, hurting her ankle as she tried to get away.

She was arrested, although later released without charge - the Emperor subsequently let her keep the flag as a souvenir of the Games.

"Everyone thinks I got banned because I stole the flag," Fraser said.

"It wasn't that. It was because I marched in the Opening Ceremony at the Tokyo Games when I had been asked not to.

"I felt able to do it - and I also think that if you get the opportunity to represent your country, you should do so."

Fraser had also incurred the disapprobation of the authorities by shunning the official team costume in preference to an older, more comfortable version made by another manufacturer.

Thirty years later, Syd Grange, a 1964 team manager, commented: "I always believed Dawn was a very successful Australian ambassador.

"She always performed at the right time, and she could have had one more gold medal [in Mexico]."

Australian Olympic Committee historian Harry Gordon said Fraser became a "national icon" after she overcame great adversity to win the 100m for the third time, adding to her victories in Melbourne 1956 and Rome 1960.

"Tokyo was the greatest single performance of her career," Gordon said.

In his book Australia and the Olympic Games, Gordon wrote "Fraser was 27, uninhibited with a rugged streak of independence and a self-confessed talent for attracting trouble."

Fraser remains very supportive of today's Olympic athletes. "The 1964 Olympic team didn't have the sponsorship that athletes of today are fortunate to be given and having Qantas and other sponsors helps them to pursue their dreams," she said.

"The 50s and 60s were seen as the golden era for the Australians in Olympic sports, what made those teams special was that all athletes were on the same level.  

"We will and can recapture the magic of those golden years."

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