
Oatley, whose family company bought the Whitsunday island four years ago, made the announcement after racing his 30-metre Wild Oats XI in the Superyacht Cup and Millennium Cup in Palma, Spain, last month.
"The success of the superyacht racing here in Palma leaves me in no doubt that we need to bring the concept to Australia, and Hamilton Island is the perfect venue," said Oatley.
"We have already made some plans and now it is time to press all the buttons to make it happen.
"We hope to have a sample of this style of competition at Audi Hamilton Island Race Week in August, and next year we expect it will be a stand-alone event around the same time of year.
"Our long-term aim is to have an impressive fleet of these huge yachts - power and sail - visiting Hamilton Island for our regatta and then cruising through Australian waters." Oatley said.
The Superyacht Cup and Millennium Cup attracted 52 yachts to Palma. They ranged in length from 27 to 88m, with their total length exceeding 2.4km. Their combined sail area topped eight hectares, and the total value of the fleet was more than $US2 billion.
The minimum length for a vessel to be classified as a superyacht is 24 metres.
Oatley said a superyacht event would bring benefits for tourism and the expanding superyacht industry in Australia.