The announcement comes after the official end of the inaugural season, which saw 10 prize tagged barramundi worth $10,000 caught across the Northern Territory over the last five months.
Chief Minister and Tourism Minister Adam Giles said the Million Dollar Fish competition had been a great success and delivered huge promotion for the Northern Territory around the world.
"We've had more than 43,000 people register for the competition from 62 different countries including 25,800 people from interstate and 14,600 Northern Territory locals," he said.
"This was 33 per cent higher than our original target and a figure we hope to see grow further now we've announced a second season of the competition.
"After our 10 $10,000 competition winners during season one, interstate anglers can travel up here with confidence that the tagged fish are real and can be caught."
Mr Giles said the competition generated spin-off benefits for local businesses with marine dealers reporting a boom in out-board motor servicing, servos selling more fuel and tackle shops reporting increases in business.
"A Tourism NT registrant survey showed an estimated quarter of the 25,800 interstate registrants – roughly 6000 people – came to the NT and went fishing with the visitors mainly coming from Queensland, New South Wales and Victoria," he said.
"It was also great to hear that while in the NT, these holiday makers said they undertook sightseeing tours, visited Litchfield and went camping, providing further flow on benefits for local businesses."
Some of the many fishing regions just waiting to be explored in the Top End include: Darwin, Kakadu National Park, Katherine, Arnhem Land and the Tiwi Islands
Highlights of season one include:
Nathan Neave defying the odds to catch two $10,000 fish;
10 fish caught from four different locations across the Top End (Darwin Harbour, Daly River, Corroborree Billabong and Bynoe Harbour);
One fish caught without a boat (Kurt Bauman on the Daly River).
Competition partners and underwriters of the cash prizes, CrownBet, paid out $100,000 throughout season one and they were thrilled to be back on board for another season.
Matt Tripp, CEO CrownBet, was overwhelmed by the support Million Dollar Fish received during season one.
CrownBet is delighted to pioneer unique competitions and we congratulate the nine fishos who landed ten $10,000 cash prize barra," he said.
"CrownBet are ready for an exciting season two and maybe one smart fisho will land the $1,000,000 prize fish next season.
Registrations for season two of Million Dollar Fish will open soon.