Baker-Finch led the Australia team as golf featured for the first time at the Olympics in 112 years at Rio 2016.

Australian athletes found themselves in contention for medals in both the men's and women's individual events at the Games.

Marcus Fraser led for the opening two rounds of the men's competition, before dropping to third place on the penultimate day.

He eventually finished joint-fifth.

Minjee Lee ended seventh in the women's event, just two shots off the bronze medal.

Baker-Finch, who won the Open Championship in 1991 at Royal Birkdale, has welcomed the chance to return as captain.

"Representing your country at the Olympics is not only a huge honour, but I believe the pinnacle of world sport," Baker-Finch said.

"In talking to our potential representatives, I know they're all incredibly excited to have the chance to be considered to come to Tokyo in the green and gold.

"Last time we had Minjee Lee, Su Oh, Marcus Fraser and Scott Hend - and I know they all had the experience of a lifetime.

"We can't wait to see who will get the chance next year, but I'm sure they will all do the country proud."

Ladies European Tour winner Stacey Peters has been confirmed as Baker-Finch's women's team deputy.

Golf Australia high-performance general manager Brad James will serve in the same role for the men's team.

Australia's Chef de Mission Ian Chesterman believes the golf team will benefit from Baker-Finch's experience.

"I am absolutely delighted to have Ian in this role of team captain," he said.

"His leadership was greatly valued in Rio 2016 and I know the Australian Olympic team will once again benefit from having someone of Ian's calibre and commitment as part of the team."

Based on current Olympic rankings, Australia will qualify to send the maximum of two male and two female athletes to compete at the Kasumigaseki Country Club in July and August next year.

This will remain the case if there are more than two Australian athletes ranked inside the top 15 of their respective Olympic rankings at the 2020 cut-off dates next June.

Golf Australia will nominate a team to the Australian Olympic Committee on July 2, with a final team selection announced shortly afterwards.

Adam Scott is currently Australia's top ranked men's player, with the former world number one currently 17th in the overall rankings.

Scott turned down an invitation to compete for the Australian team at Rio 2016 and has been quoted as saying the Olympic Games is "not the priority" for him.

His compatriot Jason Day, who missed Rio 2016 over fears surrounding the Zika virus, has indicated he would accept an invitation for Tokyo 2020.

Minjee Lee is Australia's top ranked women's player, at seventh in the world.