The Big Bash confirmed on Wednesday the WBBL would follow in the footsteps of the KFC BBL, which brought in a draft for the 2022-23 season.
Significant changes have also been made to the definition of 'marquee player', shaking up the way clubs can build their 15-player lists.
Foreign players will nominate for the draft across gold, silver or bronze tiers.
League officials will then elevate select players who they determine are the most enticing draft prospects to a platinum tier ahead of the draft.
Platinum players will earn $110,000, Gold players will earn $90,000, Silver players will earn $65,000 and Bronze players will earn $40,000.
Each club will be able to sign up to three overseas players via the draft (not including replacement players).
Further details on the draft, including the date and the order in which teams will pick, will come later but it is expected to largely mirror the BBL's draft process, and it is not anticipated that major changes will be made to that system introduced last summer.
It is also likely there will be a retention pick system in place to allow clubs priority access to overseas players from last season. Details are yet to be confirmed, but in last year's BBL draft, each club was entitled to one retention pick.
There is no draft for domestic players.
However, in a significant change for the league, any player earning $50,000 or more per season – whether domestic or overseas – will be considered a 'marquee' player. Each club will be required to sign at least five marquee players.
This is a change from the past eight seasons, where 'marquee players' were either CA-contracted Australians or overseas players, and clubs could sign a maximum of five.
The new contracting system is underpinned by an increase in total payment pools for the clubs. As confirmed earlier this month, the WBBL's payment pool will double to more than $732,000 per team each year.
Top WBBL players now have the potential to earn more than $100,0000 (plus superannuation) per season, with the average retainer doubling from $26,900 to close to $54,200, and the minimum retainer increasing by 30 per cent.
The changes have come about as part of the new five-year MOU between Cricket Australia and the Australian Cricketers' Association.
Season dates for WBBL|09 have yet to be confirmed but it will be staged in its usual October-November window.