The Handa Australian Senior Open is to be co-sanctioned with the European Senior Tour.
The three year deal means an increase of $100,000 in the prize money to 400,000 Australian dollars, as well as the inclusion of 30 European tour golfers.
The Handa Australian Senior Open will be at Royal Perth Golf Club from 19-20th November and will be the Opening Tournament of the 2011 European Senior Tour.
The Handa Cup Senior Masters in Japan will be held the following week.
The Australian Senior Open will attract golf champions such as Forgan sponsored Ian Woosnam, Sandy Lyle and Sam Torrence, as well as the defending champion Mike Harwood.
Other golfers organisers hope the tournament will attract include the likes of Rodger Davis, Bob Shearer and Peter Fowler
It will also be the home debut of Australian golfer Ian Baker-Finch as he makes his first appearance on the Senior Tour,
Andy Stubbs, Managing Director of the European Senior Tour, said: “The European Senior Tour is delighted to be invited for the first time to co-sanction the Handa Australian Senior Open with the PGA of Australia and for this tournament to be the first to count towards the 2011 European Senior Tour Order of Merit."