The iconic circuit has long been expected fill the blank spot on the schedule which was originally listed for the end of May.
It's now been moved two weeks earlier with a May 12-14 date.
The full category line-up is yet to be revealed however it is likely to feature both S5000 and TCR Australia.
“We’ve been going to Phillip Island for many years as part of the Shannons Nationals, the Shannons Motorsport Australia Championships and now the SpeedSeries,” said Motorsport Australia Director of Motorsport & Commercial Operations Michael Smith.
“The feedback from drivers, teams, officials and spectators is always overwhelmingly positive and we know the racing will be enjoyable and competitive.
“This event is the final piece in the 2023 SpeedSeries calendar which promises to deliver some amazing racing, a wide range of categories and visits to the best Australian circuits.”
Australia Racing Group COO Liam Curkpatrick added: “Phillip Island is an iconic venue that has witnessed some of the best moments in Australian motorsport and we are excited to add another chapter to that in May this year.
“This final piece of the puzzle allows us to confirm a number of category’s 2023 schedules and we are eager to get this year’s SpeedSeries underway with AWC Race Tasmania in February.
“Together with Motorsport Australia, the Australian Racing Group is looking forward to one of the biggest calendar of the events in recent times. We’ve now got an amazing eight events to look forward to, including the addition of the TCR World Tour later this year.”
Full 2023 SpeedSeries schedule
| Round | Event/Circuit | Date |
| 1 | Race Tasmania, Symmons Plains (TAS) | February 24-26 |
| 2 | Bathurst 6 Hour, Mount Panorama (NSW) | April 7-9 |
| 3 | Phillip Island, Victoria | May 12-14 |
| 4 | Winton Motor Raceway, Victoria | June 9-11 |
| 5 | Sydney Motorsport Park (NSW) | June 23-25 |
| 6 | Queensland Raceway (QLD) | August 11-13 |
| 7 | Sandown International Raceway (VIC) | September 8-10 |
| 8 | Bathurst International, Mount Panorama (NSW) | November 10-12 |
