Mr Morrison announced the date after visiting the Governor-General Peter Cosgrove early on Thursday morning, asking him to dissolve the 45th Parliament and issue the writs for an election.
Mr Morrison said there was "so much at stake" at the election.
"At this election, there is a clear choice. It is a choice that will determine the economy that Australians live in, not just for the next three years but for the next decade," Mr Morrison told reporters.
The Prime Minister has announced the date of the federal election.
Prime Minister Scott Morrison met with Governor-General Peter Cosgrove for less than 10 minutes this morning.
Opinion polls have narrowed since the budget was handed down last week delivering tax cuts to most workers, but Labor remains ahead.
The government currently holds 74 seats in the lower house and Labor has 69, but a redrawing of the electoral boundaries means the Coalition starts with a notional 73 seats and Labor 72.
"It is crystal clear, at this election, it is a choice between me as prime minister and Bill Shorten as prime minister. You vote for me, you'll get me. You vote for Bill Shorten and you'll get Bill Shorten."
Labor Leader Bill Shorten is expected to make his first public appearance during the official campaign in Melbourne Thursday morning.
