The event will take place in Melbourne on April 2, just four days after the closing ceremony for the Commonwealth Games, race organisers said.
The Australian race has had to be put back to avoid a clash with the Games, which will be held from March 15 to 26.
"It's an international sporting double like never before," said the race's chief executive officer Tim Bamford.
"With the Grand Prix taking place straight after the Commonwealth Games, we expect many international and interstate visitors to stay on to experience Formula One in Melbourne first hand."
The FIA - Formula One's governing body - is yet to announce the full schedule for 2006, but Bamford said the Australian Grand Prix is now set to be the third race on the calendar.
