Last year it drew a record-breaking crowd of more than 1.4 million people. In previous years, it's usually only been a four-day fest – but this year, the festivities will run across five epic days.
Expect events like the much-loved Moomba Parade and the hilarious Birdman Rally, where competitors hurtle themselves over the Yarra River in homemade flying devices.
Top it all off with nightly fireworks across the Melbourne skyline and you've got yourself a party.