The MotoGP legend is set to be named as a guest racer for the event on February 3-5 2023.
BMW M Motorsport have confirmed that they will enter two cars in the race and, although no drivers have been confirmed yet, Rossi will likely be behind the wheel of one of them.
Rossi spent 2022 racing for Team WRT in the GT World Challenge Europe, driving an Audi.
But Team WRT will switch manufacturers from Audi to BMW for 2023, and Rossi has already tested the M4 GT3.
Rossi would be testing his mettle on four wheels against Aussie V8 Supercars drivers Shane van Gisbergen, Chaz Mostert, Craig Lowndes and Jamie Whincup who have raced in the Bathurst 12-Hours previously.
The Bathurst 12-Hours is returning for the first time since before the pandemic.