The agreement will see the two parties jointly fund a range of tourism campaigns and promotional activities in seven of Australia's key inbound markets - Singapore, Malaysia, Indonesia, India, UK, Germany and China.
Singapore Airlines will be the exclusive airline partner for all Restaurant Australia campaigns in Singapore, India, Indonesia and Malaysia as well as provide international flights for Tourism Australia's key Corroboree Europe trade event, taking place in Adelaide in 2015.
Mr Mak Swee Wah, Singapore Airlines' Executive Vice President Commercial, said that the strategic partnership with Tourism Australia continues to be key in driving inbound tourism.
"As the world competes to attract visitors from key growth markets, Singapore Airlines continues to invest in promoting Australia, building on its long-standing presence and ongoing expansion across the country's key gateways.
"Combining Tourism Australia's marketing prowess with Singapore Airlines network reach remains a winning proposition in key target markets to bring travellers to Australia. Leveraging the opportunities presented across Europe and Asia in partnership with Tourism Australia enables us to reach better conversion rates and cement Singapore as the optimal gateway hub to Australia."
Tourism Australia Managing Director John O'Sullivan said Singapore Airline's support for Restaurant Australia included providing flights for more than 30 top Asian food and wine influencers taking part in the campaign finale - a countrywide media famil and gala dinner at MONA in Tasmania on 14 November.
"Singapore Airlines is one of our longest standing airline partners, with a relationship stretching back more than two decades. Over the years, they've supported us on some key international campaigns and I'm delighted that this will continue with our latest offering, Restaurant Australia.
"Asia continues to be a powerhouse for Australian tourism. As one of region's largest international carriers serving all of Australia's capital cities, Singapore Airlines is a critical airline partner for us as we seek to drive further growth in our international arrivals," he said.
Outside of New-Zealand, Singapore is the most connected city to Australia. In recent years, Singapore has emerged as one of Australia's most important inbound tourism markets. It is currently Australia's fifth largest source market for international tourists with visitors from Singapore generating A$1.1 billion in total expenditure in 2013.
There were 368,400 visitors from Singapore in the 12 month period ending 30 September 2014, an annual increase of 14.4 per cent. The Tourism 2020 strategy estimates that the Singapore market has the potential to grow to between A$2.3 billion and A$2.8 billion in total expenditure by 2020.