The new LandCruiser, to be known as the 200 series, will offer more powerful petrol and diesel V8 engines as well as other new technologies that enhance its performance.
New LandCruiser will be unveiled at the Australian International Motor Show on October 11.
Toyota Australia's senior executive director sales and marketing David Buttner said Australia was chosen for LandCruiser's motorshow debut over the recent Frankfurt motor show in Germany.
"This is a real coup for Australia," Mr Buttner said.
"It reflects the vital role Australia has played in the development of LandCruiser over almost 50 years," he said.
"LandCruiser has helped Toyota establish a deep connection with many of Australia's rural and regional communities - a connection that continues today.
"It has been a key factor in building the foundations for the market leadership that Toyota enjoys today in this country."
New LandCruiser is 60mm longer, 30mm wider and the roofline is 15mm higher - with styling changes that give it an even more powerful presence.
The platform has been completely redesigned and retains a full-frame structure, which has been strengthened to increase safety, reduce noise and vibration and enhance interior comfort.
A double-wishbone front suspension with coil springs replaces the previous torsion-bar set-up, improving handling and stability.
In another breakthrough for Australia, the new LandCruiser is available with the Kinetic Dynamic Suspension System (KDSS) - originally developed by WA company Kinetic.
This hydraulic system, used for the first time in a Toyota, controls the front and rear stabiliser bars to provide excellent on-road stability.
KDSS also provides outstanding off-road performance through a larger suspension stroke achieved by effectively disabling the stabiliser bars.
Australian LandCruiser models will feature the choice of a new turbo-diesel V8 engine or a V8 petrol engine improved through intelligent variable valve timing.
Both engines have considerably more power than their predecessors while the turbo-diesel engine offers a dramatic increase in torque.
New LandCruiser petrol models feature the world's first "crawl control" system for driving on surfaces such as rocks, sand or steep hills.
Toyota's CRAWL automatically controls the engine and brakes to maintain very low speeds with minimal spinning or locking of the wheels.
It allows for delicate speed adjustments between approximately 1km/h and 5 km/h. Three speed settings can be selected by the simple turn of a dial.
This allows the driver to have a greater focus on steering and is also effective at extracting the vehicle if it becomes stuck.
LandCruiser can split power between the front and rear wheels through a Torsen® limited-slip centre differential built into the transfer unit of its full-time all-wheel-drive system.
A newly adopted multi-terrain anti-skid braking system provides excellent braking performance even on dirt roads, gravel and sand.
Safety advances include the stronger body structure, vehicle stability control and up to 10 airbags - front, side and knee airbags for the driver and front passenger, side airbags for the outboard second-row seats and curtain shield airbags for all three rows.
Inside, LandCruiser offers more space for up to eight people.
Available features include Smart Entry and Smart Start, Bluetooth™ mobile-phone connection, satellite navigation and steering wheel controls.
Next year, LandCruiser will celebrate its 50th anniversary in Australia - marking the arrival of the first two-door LandCruiser FJ25s that worked on the Snowy Mountains Hydro-Electric Scheme in 1958.
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