There will be a prize pot of £1,205,000 on offer, with the winner receiving a hefty cheque for £250,000.
There’s no doubt that great wealth awaits those who reach the pinnacle of the sport, but who has banked the most?
Here are snooker’s top 12 earners of all time.
1. Ronnie O'Sullivan
Current world number one and seven times World Champion Ronnie O'Sullivan holds most of the records in snooker - including the most prize money. He's earned a remarkable £14,625,634 since turning pro at the age opf 16 in 1992. Photo: George Wood
2. John Higgins
Wizard of Wishaw John Higgins may not be able to match fellow-Scot Stephen Hendry when it comes to tournament wins, but his longevity and consistancy means he's the second highest earning snooker player of all time. He's banked £10,040,919 over a glittering career. Photo: George Wood
3. Judd Trump
With 30 ranking titles and five Triple Crown titles on his CV, Judd Trump has banked £8,916,454 in his career. Last year saw the world number one overtake Stephen Hendry to take the third spot on the all-time list. Photo: George Wood
4. Stephen Hendry
Scotland's Stephen Hendry still jointly holds the record for most world titles with Ronnie O'Sullivan. His seven world crowns helped him amass prize money of £8,804,081 before retiring from the sport. Photo: Dean Mouhtaropoulos