The winner plays for a prize that includes chef training from leading professional chefs, the chance to have their own cookbook published, and A$250,000 in cash. The contestants will then be whittled down through a number of individual and team-based cooking challenges and weekly elimination rounds until a winning MasterChef is crowned. From Season 2 onwards, 24 contestants progress. In Season 1, the top 50 competed until 20 were left, with the final 20 progressing to the main stage of the show. The semi-finalists then compete in several challenges that test their food knowledge and preparation skills. Entrants must be over 18 years old and their main source of income cannot come from preparing and cooking fresh food in a professional environment.

Initial rounds consist of a large number of hopeful contestants from across Australia individually 'auditioning' by presenting a food dish before the three judges in order to gain one of 50 semi-final places. MasterChef Australia has a different format from that of the original British MasterChef and MasterChef Goes Large formats. 9.1 Official MasterChef Cookbook Volume 1.5.4 MasterChef Australia: The Professionals: 2013.5.3 MasterChef Australia All-Stars: 2012.5.1 Celebrity MasterChef Australia: 2009.However, Junior MasterChef Australia returned in 2020 after a nine-year absence. Production of these spin-off shows were cancelled in 2013 after the producers of the show announced that they wanted to solely focus on the original version. The series has also spawned four spin-off series: Celebrity MasterChef Australia, which featured celebrity contestants, Junior MasterChef Australia, which featured younger contestants, MasterChef Australia All-Stars, which featured returning contestants from the first three series, and MasterChef Australia: The Professionals, which featured professional chefs as contestants. Restaurateur and chef Gary Mehigan, chef George Calombaris and food critic Matt Preston served as the show's main judges until 2019, when they were replaced by Series 4 winner and chef Andy Allen, food critic Melissa Leong, and restaurateur and chef Jock Zonfrillo. It is produced by Shine Australia and screens on Network 10. MasterChef Australia is an Australian competitive cooking game show based on the original British MasterChef.

Masterchef the professionals imdb