Premier racing event runs from March 13 to 16 and the thrills are such to excite crowds. While the upcoming event sure is exciting, understanding the history of the Grand Prix is also of immense interest.
So, when did it all start?
The Australian Grand Prix began in the early 20th century. In 1928, Arthur Waite sped across the finish line, winning Australia's first Grand Prix event in his modified Austin 7 on the Phillip Island circuit.
By 1985, the Australian event was officially part of the global F1 calendar. Since then, Melbourne has hosted 18 Australian Grand Prix events, while South Australia's Adelaide has held 11.
Held at Melbourne's Albert Park, the track is a loop running a little over 5 km, with seating dotted at various sections around the circuit.
Those racing in Melbourne will complete a massive 58 laps, which works out as a total race distance just over 307 km!
F1 aficionados will be familiar with the name Michael Schumacher, holder of the F1 lap record at 1:24.125, achieved in 2004. Of German origin, Schumacher quickly rose to fame and won four Australian Grand Prix titles, in 2000, 2001, 2002 and 2004.
Australian Mark Webber achieved the fastest lap time in 2010's race, coming in with a time of 1:28.358.
Last year's Australian lap record was snapped up by Australian Daniel Ricciardo, with a time of 1:28.997.
Drivers aside, what machines have the greatest power?
Judging by the number of wins, a McLaren vehicle has come out on top, with 12 Australian Grand Prix wins involving this make. Second is Ferrari with 10 wins and in third place comes Williams with 6 wins.
Here's a selection of Melbourne accommodation options during the Australian Grand Prix.