Now in its third year, the one-make series is designed to offer affordable, grassroots motorsport competition for aspiring young drivers in near identical, race-prepared Toyota’s 86 sports cars.

The announcement provides certainty for competitors and entrants, who will now be able to lock in their racing budgets over the next three seasons.

"In its first two years, the series has shown its ability to develop drivers and teams in a professional environment, while delivering the door-to-door action that excites motorsport fans,” Toyota's chief marketing officer Wayne Gabriel said.

"The comparatively low cost of cars and racing attract a range of drivers, from those still at school right through to businessmen wanting some fun.”

Former Bathurst winner Jason Bargwanna has been appointed as this season's designated mentor for Toyota 86 Racing Series entrants aspiring to advance their careers.

The ‘pro-am’ component of the series will continue this year, with last year’s Bathurst co-winner Luke Youlden, former Bathurst winner Jason Bright and Chris Pither among the ‘pro’ drivers set to contest selected races.

"These expert drivers will compete against and offer advice to the other entrants, joining our other expert drivers including Jonathon Webb, Leanne Tander, Warren Luff, Steve Owen and rising star Harry Bates," Gabriel said.

The six-round 2018 series kicks off on April 20-22 at Phillip Island.