The series will comprise the new English Open, Irish Open and Scottish Open as well as the existing Welsh Open.
Each tournament will feature 128 players in a flat draw. Once all professional tour players have entered, the two wild cards will have next priority, followed by Q School top-ups.
Should any player win all four Home Nation series titles in 2016-17, they will pocket a staggering £1 million - snooker's richest ever bonus.
Total prize money for each of the Home Nations events will be £366,000, with the winner to receive £70,000. All four tournaments will be televised by Eurosport.