Government, Catholic and independent schools who submit an expression of interest online by Monday 14 November will go into a ballot.
The 20 schools selected will then nominate one year 10 or 11 student each to take part in the 2017 tour.
In 2017, students will visit Flanders, Belgium, and commemorate 100 years since the British offensive on the town of Ypres in which Australia lost 38,000 men. The 12-day tour will also take in other significant Australian battlefields on the Western Front in Belgium and France including Villiers Bretonneux, Pozieres and Fromelles.
Minister for Veterans Affairs David Elliott encouraged expressions of interest from schools around the state.
“These scholarships enable young history buffs to visit key battlefields and memorial sites where our Anzac history is brought to life,” Mr Elliott said.
“This is a unique opportunity, one that offers scholars insight into Australia’s involvement in the First World War and the birth of the Anzac legend,” Mr Elliott said.