Led by show-stoppers John Daly and Greg Norman, an all-star cast of the games best will be in attendance for the $1 million event, including Nick Faldo, Ernie Els, Robert Allenby, Bryce Molder, Justin Rose and Adam Scott.
New Zealands Michael Campbell will also be teeing it up.
Campbell is looking for a piece of European Tour history this week, as he is gunning for three titles in a row at the Heineken. He won by six strokes in the 2000 edition, and followed it up with a five-shot win over David Smail last year.
Should Campbell win this time around, he would join Faldo (91-93 Murphys Irish Open), Colin Montgomerie (98-00 Volvo PGA Championship) and Tiger Woods (99-01 WGC-NEC Invitational) as the only men to win three tournaments in consecutive years since 1972 on the European Tour.
Campbell may want to keep a close eye on Norman, however.
The legendary Aussie is turning 47 on Feb. 10, and holds this years venue at Royal Melbourne in high regard.
I applaud The Premeir and Victoria as a whole for bringing a tournament of this magnitude to a golf course I consider to be one of the greatest in the world, said Norman of the co-sanctioned event between the European Tour and the Australasian Tour.
Royal Melbourne should be showcased annually by a significant international event and with the sanctioning from both the European Tour and the Australasian Tour. This tournament will give the golf course the exposure it richly deserves.
As The Shark is competing in his fifth Heineken Classic, long-hitting Daly is contesting in his first European event of the season. Daly recently broke a six-year winless streak with a huge win at last years BMW International Open.
Full coverage of Daly, Norman and the rest can be seen all four days only on The Golf Channel.