The $5 banknote is currently undergoing a redesign, with Australians invited to contribute their ideas for the new theme before April 30.

An online session will be held on April 24 to provide more information.

Communities are encouraged to propose themes that celebrate Aboriginal and Torres Strait Islander cultures.

This could include ancestral stories, significant locations, cultural concepts, musical instruments, or community symbols.

10 News First presenter and campaign ambassador, Narelda Jacobs, expressed her excitement about integrating Indigenous cultures into daily life through the redesign of the $5 banknote.

"As a Noongar yorga (woman), I'm excited by the opportunity the reimagining of the $5 note presents to embed First Nations cultures in our everyday lives," she said.

The redesigned banknote will not depict any individual person.

The Reserve Bank of Australia (RBA) has received a positive response through targeted community engagement and a national campaign.

Suggestions have ranged from themes inspired by Indigenous cultures, traditional storytelling, indigenous art and design, native fauna, to iconic landmarks.

Wairadjuri / Ngunnawal Actor and Campaign Ambassador, Luke Carroll said "As a proud Aboriginal man from the Wiradjuri and Ngunnawal Nations in NSW, I am so excited for our First Nations cultures, history, and knowledge to be represented on our very own Australian Bank Note".

"We are the oldest continuing culture in the world, and this is something that should be celebrated by all Australians," Mr Carroll said.

In the campaign's closing stages, the RBA has emphasised the historic chance to shape Australia's national identity and honour Indigenous cultures.

Encouraging collaboration, individuals are urged to assist those facing obstacles in submitting ideas.

Submissions can be made via the Reserve Bank of Australia website.