The event will be held in Federation Square and will broadly follow the format used for a similar event last year in London prior to the British Grand Prix, in which all the drivers (except for reigning world champion Lewis Hamilton, who controversially declined to attend) were introduced on stage and interviewed in front of the crowd.

F1 has promised that all 20 drivers and 10 team bosses will attend the Melbourne event.

It will be the first time a formal Formula 1 season-launch has been held.

The event will also feature past F1 stars and musical acts, and will be streamed online internationally across social media platforms.

"The passion, knowledge and enthusiasm of the Melbourne crowd deserved a special thanks and this is why we have decided to organise the first ever Season Launch event in the history of the sport," F1's commercial chief Sean Bratches said.

"We are incredibly excited to be putting on such a spectacle for our fans. It's vital that we put them at the heart of everything we do, and this event provides us with a platform to engage with fans not just locally but also globally.

"The 2019 season also marks another historic moment for the sport as we celebrate our 1000th Grand Prix in China later this year and we are excited to see all the teams come together to kick off the season with a bang."

The announcement of the Federation Square F1 season launch came just one day after grand prix race promoters publicly criticised F1’s new owners, Liberty Media, questioning their commitment to the sport.