The 2014 IndyCar Series champion Will Power has been honoured in his hometown Toowoomba with a speedway event named in his honour.

To be known as the Will Power 500, the event will be held in the Darling Downs city on November 21.

Power visited his former school, Downlands College, for the announcement with Toowoomba mayor Paul Antonio.

“My dad Bob used to race at the track before I was born when it was called Charlton Raceway, so there’s lots of history here for our family and now we’re about to make some more,” Power said.

Power had previously received the keys to the city from the mayor during a civic reception in Toowoomba.

A number of Australia’s leading Sprintcar racers are expected to travel to Toowoomba for what promises to become one of the most prestigious events on the Australian Sprintcar calendar.

It will also form part of the Ultimate Sprintcar Championship inaugurated this season by the new owners of Hi-Tech Oils Speedway who also own Sydney Speedway in Granville.

Due to upcoming testing commitments with the champion Team Penske IndyCar outfit, Power will be back in North Carolina on November 21, but has vowed to make it a priority to be in town next season.

Power will also be on hand with the DJR Team Penske squad at the Supercheap Bathurst 1000 as an onlooker for the #17 Ford that will be piloted by Scott Pye and Marcos Ambrose.

“I’m really looking forward to watching the first event on “Clay-per-View” with my wife from home, but next year we hope to be there in person and see it live,” continued Power on the speedway honour.

“These Ultimate Sprintcars are crazy with that much horsepower on dirt, and, in IndyCar circles we have a huge amount of respect for Sprintcar racers and the cars as well, because you need a huge amount of talent and skill to race them.

“I’ve been hanging to get a ride in one of these things for years so you never know. There’s always a chance I may get to compete in my own race one day after I finish my time in IndyCar racing.”