Details have not yet been released on the exact nature of the project, which is believed to be the biggest branding work yet for the Australian tourism industry.
The release of Brand Australia also coincides with the formation of a new body, Tourism Australia, which will launch in July.
Tourism Australia replaces the Australian Tourist Commission.
Under the new umbrella will be other bodies such as Tourism Events Australia, Tourism Research Australia and See Australia.
Brand Australia will serve as the umbrella brand for all the bodies.
Some A$360 million (US$248 million) will be allocated to branding activities over the next four years, including print ads in regional markets.