“Shark Tank” will be back on Channel 10 and 10 Play this year.

The show previously ran for four seasons between 2015 and 2018, featuring investors Steve Bater, Janine Allis, Andrew Banks, Naomi Simpson and Glen Richards, who replaced John McGrath after Season 1.

Network 10 has not yet confirmed who will make up the panel on the revived show, only saying they will be “five business superstars”. It has, however, started recruiting entrepreneurs to compete on the show.

“Shark Tank” puts the budding entrepreneurs in front of the investors (“sharks”), who listen to the business pitch and decide whether or not to invest their own money in the venture.

“All you need is a great idea, and it could change your life,” the network said in its new promo for the show.

“Shark Tank” is based on the “Dragon’s Den” format, owned by Japan’s Nippon TV and distributed by Sony Pictures Television.

Australia did previously make its own “Dragon’s Den” in 2005 with Andrew O’Keefe as host and Darryn Lyons, Peter Higgins, Simon Reynolds, Sarina Russo and Suzi Dafnis as investors, however it was dumped by the Seven Network after just one episode.

Locally, the new show will be produced for Network 10 by SPT’s Curio Pictures.