A second successive lay day has delayed the start of the Rip Curl Pro, with organisers eagerly awaiting good waves to reach Bells Beach.
"We are going to wait for the better conditions," World Surf League (WSL) Commissioner Kieren Perrow said on Thursday.
"The swell that is coming is looking good for Bells, and we will have favourable winds so it's shaping up to be a great weekend of action."
Forecaster Surfline says waist-high waves will only arrive late on Thursday but predicts Friday's swell will deliver overhead sets all day.
Saturday's forecast is for some waves to exceed three metres.
Three-time WSL champion Mick Fanning, who will retire after this event, will face Hawaii's Sebastian Zietz and Brazil's Jesse Mendes in the men's opening round.
Tour leader Julian Wilson will battle Victorian trials winner Carl Wright and France's Joan Duru.
World junior champion Macy Callaghan, who was called in to replace defending champion Courtney Conlogue, faces women's tour leader Lakey Peterson.
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