More than $3 million will be spent by the federal and NSW governments bringing Oprah Winfrey to Sydney - but Tourism Minister Martin Ferguson says it is money well spent.

Announcing the coup in Sydney today, Mr Ferguson said Winfrey's show had a weekly following of 40 million American viewers and was screened in 145 countries.

"This truly represents an amazing opportunity to showcase Australia, the warmth and hospitality of our people and the depth and breadth of everything our country has to offer visitors from around the world," he said.

"Tourism Australia is finally getting it together.