In just its second year, the competition has already cemented itself as one of the premier fishing tournaments in the country.

Professionals from around the nation will gather at Reflections Holiday Park for the two day event, with the winner set to walk away with $10,000.

In fact, between the ABO and Bass Grand Final, which is held at Lake St Clair near Singleton just a few days earlier, $50,000 in prize money will be given away.

Australian Bass Tournaments's Steve Morgan said it's a highly prestigious event to be part of for anglers, and they thoroughly enjoy coming to the region.

"It's a good showcase of the Hunter Valley, it's a great place to go fishing and it's good to bring those two events to town," he said.

He also stated it was a brilliant time to cast their rods out in the area, with ideal conditions coming into play.

"We hold it in springtime because it's traditionally the time where the lake starts to fish really well," said Morgan.

"The water warms up, and all the crayfish start to come up out of hibernation.

"And then the bass come out for the crayfish so it's a really interesting time for anglers.

There are a number of regulations for the competition itself, with rules including only having one angler per boat, no live baiting and using a system where they fish are kept alive until they're weighed, then released back into the lake in an attempt to have no moralities.

A number of local anglers are tipped to take part, including last year's winner - Peter Phelps.

Morgan described the event as 'high entry fee, high payback', as each competitor pays $550 to enter with $500 of that going into the prize pool.

Monetary rewards go all the way down to tenth place, although that will be a tough ask given more than 50 people will take part.

He is hopeful some of that money will be spent in the local community throughout the weekend, as competitors enter Scone and surrounding towns for food and accommodation.