A proposed multi-day hike through some of the Northern Territory's most remote and dramatic landscapes is being billed as Australia's next great outback experience.

Set in Watarrka National Park, home to the famous Kings Canyon on Matutjara Country, the trail will take hikers through the ancient landscape which already attracts some 250,000 visitors each year.

The Territory Government on Saturday revealed Australian Walking Company had won a multimillion dollar tender to design, develop and operate the track in partnership with Traditional Owners.

A walking trail in Watarrka National Park. Picture: NT Parks and Rangers.

The track has been hailed for its job-creating potential for Traditional Owners in the remote area, some 330km southeast of Alice Springs.

"The project is a good thing to do for the young people, to give them work," Western Arrente-Luritja Traditional Owner Hubert Pareroultja said.

AWC, NT Parks and Wildlife and Traditional Owners will now decide on placement and nature of the walking trail which has been in the works with the Central Land Council for five years.

Australian Walking Company executive director Neil Lynch said the trail would immerse guests in one of the most scenic outback landscapes in Australia.

"Operating walks in National Parks comes with the responsibility of safe-guarding the natural wilderness and we are excited to have the special privilege of showcasing this outstanding walking track in the Northern Territory," he said.

"We look forward to working with the Traditional Owners to design and create a walk that shares the unique heritage and cultural legacies while promoting the environmental conservation and historic preservation of Watarrka National Park."

The Territory Government has already committed $5.6 million in co-funding for the project.

NT Parks and Rangers Minister Nicole Manison said Watarrka was a culturally significant and ancient wonderland.

She said the trail would give more tourists reason to visit central Australia.