Mining magnate Andrew "Twiggy" Forrest will head up a federal government-initiated review into Indigenous employment and training programs.
Prime Minister Tony Abbott said the government was committed to boosting job opportunities for Aboriginal people.
"Too often employment and training programs provide training for training's sake without the practical skills that people need to fill the jobs that exist," he said in a statement on Tuesday.
The review will provide recommendations to ensure programs are properly targeted and administered.
It will look at ways employment services can better match people up to opportunities available.
Mr Forrest, chairman of Fortescue Metals Group, will work closely with the prime minister's new Indigenous Advisory Council on the review, which will report back on April 7 next year.
Parliamentary secretary Alan Tudge will guide the review process.
Mr Forrest started the GenerationOne campaign to end Indigenous disadvantage through increasing employment and training opportunities.
Over three years, the campaign secured 60,000 job pledges for Indigenous Australians.
So far 14,000 Indigenous people have taken up jobs under the scheme.
Mr Abbott told reporters in Bali on Tuesday the review would help create a new beginning for Indigenous people who want to have a "serious" career in the private sector.