A huge yachting event in Australia's calendar, the Rolex Sydney Hobart Yacht Race, will have competitors sail the waters once again from December 26.

In its 68th year, the event has become an "icon of Australia's summer sport" as yachties travel through the waters of Sydney Harbour, the Tasman Sea, Storm Bay and the Derwent River.

The course is often described as the "most gruelling long ocean race in the world" with those taking part, sailing across 628 nautical miles.

Known internationally, the Rolex Sydney Hobart is considered one of the world's great offshore races, beginning in 1945 and sponsored by Rolex for the last decade.

The race kicks off in Sydney Harbour, moving out to the Tasman Sea, travelling down the south-east coast of Australia, crossing the Bass Strait and then heading down Tasmania's east coast.

The yachts will then move into Storm Bay, sailing in the homestretch up the Derwent River to Tasmania's capital city Hobart.

Interest in the race has already started to build up with the entry of Bob 'Robbo' Robertson's yacht Lunchtime Legend bringing in the 50th entry, with the fleet growing to 60 just hours later.

Robertson says this is his crew's year to take the glory, after coming off with a win in the Magnetic Island Race Week series and taking second place in the Hamilton Island regatta and Airlie Beach Race Week.

Lunchtime Legend is expected to be 'leaner and meaner' in this year's Rolex Sydney Hobart with a younger crew who are 'fired up' with Australian successes at the 2012 Olympics.

Applications for entry close on November 1 at 17:00, with entries to the race wrapping up on November 30 also at 17:00.

If you are interested in competing, visit the Rolex Sydney Hobart website to submit your application for entry.