Last year the Supercheap Auto entry was raced by Russell Ingall and Broc Feeney, however Feeney's promotion to a full-time seat for 2022 has prompted a re-shuffle.
With Feeney set to be joined by Jamie Whincup in the #88 Red Bull entry, Supercars legend Craig Lowndes will shift over to the Supercheap car.
It's long been understood that the second seat was a choice between T8's two Super2 drivers Fraser and Cameron Hill.
According to Motorsport.com sources its Fraser that's been given the nod for the slot alongside Lowndes.
This will be Fraser's maiden Great Race start, although he did bank plenty of miles in a V8-powered MARC car at the Bathurst 12 Hour last month.
The driver line-up for the Supercheap entry will be formally confirmed at a launch event in Brisbane on Sunday, which is open to fans free of charge.
There will be at least 28 cars on the grid for the 2022 Bathurst 1000 with confirmation of this third wildcard.
Other one-off entries already locked in are the Erebus Motorsport-run, Boost Mobile backed car for Greg Murphy and Richie Stanaway, and the Anderson Motorsport entry for Michael Anderson and a yet-to-be-confirmed co-driver.
The Bathurst 1000 will take place on October 6-9.
