The new system will witness four rounds where franchises can pick players who will be divided into four categories on the basis of their salary bands.
Earlier, BBL franchises were able to negotiate with a particular overseas player and their agent independently. The introduction of the draft brings all clubs to the table simultaneously to pick players in turn.
One among the Melbourne Renegades, Brisbane Heat and Melbourne Stars are likely to have the first pick in the draft after missing out on the knockouts last year.
Franchises are also eligible for sole retention across any round provided that the player in question represented the team in the previous edition.
Among all the overseas players in the draft, the biggest attraction is arguably Rashid Khan. The 23-year-old leg-spinner has represented the Adelaide Strikers over the past five seasons, claiming 92 wickets in 61 appearances.
Prior to entering the draft, players will have to state their availability. With Afghanistan set to tour Sri Lanka for a three-match ODI series in January, Rashid Khan's participation for the entire tournament is a major doubt.
The list is currently dominated by a host of Caribbean players, highlighted by the inclusion of T20 veterans Dwayne Bravo and Kieron Pollard. Both all-rounders have plied their trade in the BBL before.
Bravo, the leading wicket taker in the history of T20 cricket has played for the Sydney Sixers, Melbourne Renegades and Melbourne Stars. Pollard, on the other hand, has represented the Adelaide Strikers and Melbourne Renegades.
BBL current draft nominations
Rashid Khan, Qais Ahmad, Fazalhaq Farooqi, Rahmanullah Gurbaz, Waqarullah Ishaq, Izharulhaq Naveed, Naveen Ul Haq Murid, Hazratullah Zazai.
Colin Munro, Todd Astle.
Faf du Plessis, Marchant de Lange, Rilee Rossouw, David Wiese (also Namibia).
Dwayne Bravo, Kieron Pollard, Sheldon Cottrell, Chemar Holder, Akeal Hosein, Evin Lewis, Anderson Phillip, Khary Pierre, Ravi Rampaul, Sherfane Rutherford, Jayden Seales, Kevin Sinclair, Tion Webster, Nyeem Young.