With a record US$20 million prize purse on offer, including US$3.6 million for the winner, there's good reason why the PGA Tour event is ranked highly, and even sits just below the four men’s major championships.

"It's the Tour's flagship event. It's the one event that's not a major that really does feel like a major," Australian Marc Leishman said on Wednesday.

"There's a lot of things that sets it apart.

"Obviously the golf course and the conditions. It's always perfect conditions and you need every shot – you need your draws, fades, high lows.

"It looks like this week we're going to be dealing with the elements a bit too."

With a grim forecast, this year's victor will earn every cent of their mega cheque.

RIGHT: Lucas Herbert is making his Players Championship debut after finishing strongly last week at the Arnold Palmer Invitational. PHOTO: David Canon/Getty Images.

"One year I finished eighth or ninth. Apart from that, it's been a lot of forgettable results for me. But that's the good thing about it. It's a challenge every time I come here," Leishman said.

"You just have to play good. There's no pretending around this golf course."

Leishman is among 46 of the world's top-50 players teeing it up and trying once again to join Steve Elkington (1991 and 1997), Greg Norman (1994), Adam Scott (2004) and Jason Day (2016) as Australians on a famous honour roll also featuring major-winning legends Jack Nicklaus, Lee Trevino, Tiger Woods and Phil Mickelson.

"It tests every part of your game so to win around here is a feat and I would like to lift that trophy up at the end of the week. It would mean a lot," Leishman said.

Scott, Day, Cameron Smith, Matt Jones, Cam Davis and Lucas Herbert on debut are the other Australians in the 144-man field.

"It's always perfect conditions and you need every shot – you need your draws, fades, high lows ... looks like this week we're going to be dealing with the elements a bit too." - Marc Leishman.

After missing last week's Arnold Palmer Invitational following the death of his mother, Day returns to one of his happiest hunting grounds.

As well as 2016 victory, the former World No.1 has three other top-10 finishes in his 10 starts at the event.

And since that 2016 win, no player has a better cumulative score under par than Day, who is 36-under at The Players in that span.

Herbert arrived for his first look at Sawgrass on Tuesday fresh off a final-round best 68 at the Arnold Palmer Invitational.

His Sunday round was the best of the day and validation that his game was trending nicely for another good week following successive missed cuts despite feeling he'd played well.

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"I wasn't surprised to finish in the top-10 at Bay Hill," said Herbert, who is welcoming the horrible weather.

“I'm not a big fan of playing in the rain, but I think all the events that I've won have rained on the final round at some point. It seems to be my thing.”

"So maybe that's going to play into my hands a little bit more than with perfect calm conditions."

American Justin Thomas is the defending champion and bidding to become the first back-to-back winner in the tournament's 49-year history.