Tasmanian young gun Jack Hale will race in a star-studded field full of former winners and top sprinters in the 120-metre foot race at Stawell's Central Park.

The 16-year-old has taken Australian sprinting by storm in the past year and was given a 2.25-metre mark by handicappers for the event.

Former gift winner Mitchell Williams-Swain will serve as the backmarker in the main field, running off scratch.

Williams-Swain was victorious at Stawell in 2011 and was favourite to take out the 2013 final before being penalised one metre for a false start.

Australian world championship representative Matt Davies will keep Williams-Swain company at the back of the field, running off a 0.75-metre mark.

Fans of the cult movie Cool Runnings will be pleased, with Jamaican national bobsled team member Khan Marr returning to compete at Stawell after a year off.

The 32-year-old will run off 3.25 metres and was in good form at the Victorian Track and Field Championships last month, running 100 metres in a wind-assisted time of 10.74 seconds.

Andrew Robinson, who won the gift in 2013, has been given a four-metre mark but is unlikely to compete due to an Achilles injury.

The star power extends to the Women's Gift, with several big names vying for the increased prize money on offer this year.

Australian 100-metre women's record holder Melissa Breen will return to the Central Park running track hoping to emulate her 2012 win.

The women's field also has its answer to Jack Hale - New South Wales' Ella Nelson.

Nelson recently beat out both Breen and Australian Olympic champion Sally Pearson at the Sydney Track Classic 200-metre final.

She will run off 2.75 metres, while Breen is the backmarker and will run off scratch.

Last year's winner Holly Dobbyn has also returned and will run off 6.5 metres.