The extended 4.5km configuration of old Eastern Creek - now Sydney Motorsport Park - track has been renamed Brabham Circuit in honour of Australian Formula 1 legend Sir Jack Brabham.
The Australian Racing Driver's Club (ARDC) President Andrew Leithhead made the announcement at the annual Legends Dinner at the Australian Muscle Car Masters event this past weekend.
In addition to the change of name for the circuit, the main straight will be known as Brabham straight.
What used to be known as Eastern Creek was recently renamed Sydney Motorsport Park after an extensive refurbishment and the track extension.
The track can also be split into two separate circuits to allow multiple events on the same day.
Another Australian racing icon was also honoured by the ARDC, with Mr Leithhead announcing that turn five would be renamed "Brock 05" in recognition of Peter Brock and his racing number 05.
Sir Jack was on hand for the celebrations, leading the parade lap of the Australian Muscle Car Masters around the new track.
"Thank you very much for the suggestions of Brabham Straight and Brabham Circuit. I am honoured, especially as I had quite a lot to do with the building of the circuit in the early days," he said.
The Brabham and Brock announcements were the first of a program of name changes and additions intended for Sydney Motorsport Park.
The ARDC is inviting the public to help name sections of the upgraded complex to "honour the people, memories and moments of the history of the venue and the sport."
"What the ARDC is doing at Sydney Motorsport Park is creating a venue that is about experiences beyond what you see on the circuit," said Mr Leithhead.
Members of the public can make submission at the Sydney Motorsport Park Facebook page.