"Australia is one of the world's great golfing countries and I'm thrilled that the Faldo Series will be staging an event there," said Britain's greatest ever golfer.
The inaugural Faldo Series Australia Championship is due to take place at Sydney's Castle Hill Country Club on January 12-13, 2015. Winners of each age group category will earn places in the ninth Faldo Series Asia Grand Final at China's Mission Hills in March.
Venue for numerous top-level professional and amateur events, Castle Hill will play host to the Faldo Series Australia Championship for three years.
Australia becomes the 18th country on the 2014-2015 Faldo Series Asia schedule, which stretches over 11 months and will be made up of a minimum of 20 championships.
Faldo said: "Last month we announced that New Zealand and Bangladesh were joining the Faldo Series. The addition of Australia further underlines my commitment to developing junior golf around the world.
"I always enjoyed playing in Australia and I now very much look forward to seeing the Faldo Series Australia Championship develop into one of the linchpins of the Faldo Series."
Patrick Young, Chief Executive Officer, Faldo Series Asia, added: "Australia has a proud history of producing great golfing champions, male and female. Today, Adam Scott and Karrie Webb are among the best-known players in the world.
"It is our hope that the Faldo Series Australia Championship will provide a platform for identifying and nurturing the next generation of world-class Australian golfers."
David Geraghty, President, Castle Hill Country Club, said: "At Castle Hill Country Club we have a great interest in securing the future of our game through the development of junior golf. We are, therefore, thrilled to be partnering Sir Nick Faldo, one of the legends of the game, by hosting the Faldo Series Australia Championship.
"We are immensely proud to have been chosen by Sir Nick Faldo to host the Faldo Series Australia Championship "“ the first tournament to be held in Australia bearing the name of Sir Nick Faldo.
"The course will certainly offer all participants a great test of nerve and skill. Castle Hill Country Club members stand right behind Sir Nick Faldo in furthering his aim to ensure the viability of the game through the development of our junior champions. The event promises to be very exciting and is certain to be well supported by the clubs' members and the Sydney metropolitan community."
Since its inception in 1950, Castle Hill Country Club has been a frequent tournament venue. As well as holding last year's New South Wales (NSW) Open, the club has staged two Australian PGA Championships, three NSW PGA Championships, four Canon Challenges and the 2013 Men's and Women's NSW Medal.
Supported by The R&A, ISPS and Mission Hills and endorsed by the Asian Tour and the Asia Pacific Golf Confederation, the 2014-15 Faldo Series Asia campaign will comprise three events in China and one each in Australia, Bangladesh, Brunei, Cambodia, Chinese-Taipei, Hong Kong, India, Indonesia, Japan, Malaysia, Nepal, New Zealand, Pakistan, the Philippines, Singapore, Thailand and Vietnam.
Dominic Wall, The R&A's Director, Asia-Pacific, said: "The R&A has supported the Faldo Series for the past 10 years and we are delighted to see the Series now being played in Australia.
"The Faldo Series has provided opportunities for many young golfers across the Asian region to test their skills at national level and internationally in the Asian Final held in China and the European Final. These opportunities will now be available to Australian junior golfers which will no doubt help these golfers gain valuable international experience."
At the ninth Faldo Series Asia Grand Final, Sir Nick will work with winners from around the region as well as champions from the Faldo Series in Europe and USA.
Recognised as the only global amateur series for boys and girls, the Faldo Series was established in 1996, expanding to Asia in 2006.
Today, 40 Faldo Series tournaments take place in 30-plus countries worldwide, touching more than 7,000 golfers each year.
Past winners include Major champions Rory McIlroy and Tseng Ya-ni.