The hosts' team includes 15 members who boast Olympic or Paralympic experience, including Ryan Gregson, who at Rio 2016 became the first Australian to make the men's 1,500 metres final in 40 years - finishing ninth.

Morgan Mitchell, who was eliminated in the 400m semi-finals in Rio, has also been selected alongside Genevieve LaCaze and Fabrice Lapierre.

LaCaze placed ninth in the Olympic women's 3,000m steeplechase final, while Lapierre came 10th in the men's long jump competition.

The event promises to revolutionise athletics, with "innovative" new disciplines set to feature with traditional track and field events. 

Jamaica's nine-time sprint Olympic champion Usain Bolt has backed the idea and will captain his own team. 

"This is something that’s never happened before and I’m just so excited to be a part of it," Gregson said.

"The main thing is that we are going to have to try and beat the Bolt All-Stars - that’s the goal.

"It’s going to be fun to be a part of a team with a lot of my friends that I get along with so well.

"I’m looking forward to being a part of it."

Brooke Stratton, Kathryn Mitchell and Michelle Jenneke have also been named in Australia's team, alongside Paralympic gold medallist Scott Reardon and bronze medallist Ella Pardy.

Reardon won the men's 100m T42 event at Rio 2016, while Pardy was part of the women's 4x100m relay T35-38 quartet which finished third in the Brazilian city.

Rising sprint stars Jack Hale and Riley Day have also been selected alongside Kurtis Marschall and Liz Parnov, who will both be crucial to Australia’s success in the pole vault.

National 400m champion and Olympic 4x400m finalist Anneliese Rubie will also take to the track. 

"This team recognises the opportunity to compete alongside Usain and his team of Olympic champions but also the chance to compete in an Australian meet on prime time TV for the first time in nearly a decade," added Team Australia selector Tamsyn Lewis.

"They are young guns ready to put on a show and we are thrilled that they will get this opportunity - it’s a world first.

"Usain Bolt is racing in Australia and they will all be part of it."

As well as Bolt's All-Stars, Australia will be joined by China, England, Japan and New Zealand at Melbourne’s Lakeside Stadium on February 4, 9 and 11.

Bolt will be joined by four fellow Olympic champions including Rio 2016 400m hurdles gold medallist Kerron Clement, Jamaican relay team-mates Asafa Powell and Michael Frater, and Beijing 2008 100m hurdles champion Dawn Harper Nelson from the United States.

A hurdles relay, the 60m "speed sprint" and an "elimination mile" have been confirmed as new disciplines for Nitro Athletics. 

Also included is the 150m, "a three minute run" and the 4x100m mixed relay, with all events classified as either power, technique, endurance or teamwork.

The 100m, long jump, pole vault and javelin are among the traditional disciplines that will take place.

Team performance rather than individual displays will be rewarded, as although some events will feature solo results, many will focus on combined placings and team efforts.

Teams will be able to utilise three strategies - the "Nitro Power Play", the "Nitro Steal" and the "Nitro Turbo Charge".

The Power Play allows double points for teams in one selected event, which will be made in advance and drawn by lot.

Using the Nitro Steal will pinch 50 per cent of an opposing team's points from a particular event, with the Turbo Charge applying only in the long jump.

Teams will be able to nominate one jump where an athlete must achieve a declared distance to gain a bonus.

There will also be penalties for false starts - 50 points for the first offence and then 100 for the second.