The IS F will enter the local market at a highly competitive $129,000, significantly undercutting its three main rivals from BMW, Mercedes and Audi.
This price represents an aggressive bid by Lexus to establish a strong foot hold in the highly competitive luxury performance market.
"This category is all about passion and brand values. With the IS F we have the brand values - the passion comes with the first drive."
The Lexus IS F will use a 5.0-litre V8 engine developing over 311kW and 505Nm through an eight-speed Sports Direct Shift (SPDS) gearbox, capable of up-shifts in just 0.1 seconds.
"The IS F will bring a strongly competitive force to the performance sedan market," said Lexus chief executive John Roca.
Due to arrive in showrooms by late October, the IS F will come fully equipped with the only option being to delete the moonroof.
Lexus also hopes its new hero model will also forge a reputation for its 'F' range of performance cars, building its credibility beyond the luxury stereotype as well as stimulating sales of other IS models.