18/11/2015 7:40 AM AEDT | Updated 15/07/2016 12:51 PM AEST

Australia Will Compete In Eurovision 2016

Nigel Treblin via Getty Images
VIENNA, AUSTRIA - MAY 23: Guy Sebastian of Australia arrives on stage during the final of the Eurovision Song Contest 2015 on May 23, 2015 in Vienna, Austria. The final of the Eurovision Song Contest 2015 will take place on May 23, 2015. (Photo by Nigel Treblin/Getty Images)

Hang onto your microphones, folks -- Australia is officially competing in Eurovision 2016. SBS announced the nation's return to the world's largest song contest on Tuesday morning, along with the news Sam Pang and Julia Zemiro will once again act as hosts for the 61st annual Eurovision Song Contest.

Last year's Vienna's event was Australia's debut entry in the competition (and was originally intended to be a once-off affair) with Aussie representative Guy Sebastian finishing in fifth place.

Måns Zelmerlöw from Sweden took out the first position.

There a few key differences to Australia's involvement in the 2016 contest, to be held in Stockholm and in which 41 countries are expected to compete.

For one, last year, Australia was guaranteed a place in the final, but in 2016, will have to compete in one of two semi-finals first.

There is also no guarantee Australia will become a permanent participant in the concert going forward.

The Australian artist chosen to represent the country is expected to be announced early next year.