Eleven skippers under the age of 25 have accepted their invitations to contest the event in memory of the man who was the moving force behind Australia II's famous victory in the 1983 America's Cup.
Evan WALKER (AUS) from Sydney's Cruising Yacht Club of Australia leads a strong contingent of challengers from the eastern states of Australia, with an ISAF World Match Race Ranking of 47, he starts the event as the favourite, having finished third last year sailing as tactician to fellow Sydneysider Seve JARVIN (AUS).
There are two local challengers who look particularly strong this year, with Royal Perth Yacht Club's Torvar MIRSKY (AUS) ranked at 51 in the world, while Keith SWINTON (AUS) from South of Perth Yacht Club is 83rd on the ranking ladder.
Both these skippers have done this event since its inaugural year in 2003, and both have improved dramatically in the past 12 months, chalking up some impressive results on the international scene.
MIRSKY has travelled to New Zealand and finished second in Wellington, and he won in Auckland, then in the northern hemisphere scored third places in America and Germany, before returning to be runner up in the Australian Open Championships.
The highlight of SWINTON's year, after finishing second in the 2006 Warren Jones event, was a win at Cowes International Youth Week in Great Britain, and he also won the W.A. State Match Racing Championships, and led the state's victorious team at the National Team Racing Championships.
Alastair HALL (GBR) is back for a third attempt at the Warren Jones Regatta, and is hoping to improve on his sixth place last year, which was a big step up from tenth place in 2005.
Yuki NAGAHORI (JPN) is the first Japanese skipper to contest the event, and has specialized in match racing at home, where he won both the Spring Match Racing and the Youth Match Racing in Hayama.
John BACK (SWE) comes from one of the toughest match racing training grounds in the world, Sweden, where many of the young sailors aspire to climb the World Ranking ladder, mixing it with the seniors he did exceptionally well to take sixth place at last year's Dubai Match Race Championships.
The event, which is hosted by the Royal Perth Yacht Club, and will be sailed in Foundation 36 yachts, runs from 29 January-1 February, 20 years after Australia's unsuccessful defence of the America's Cup.