Australian lolly fans: brace yourself for big news. The Polly Waffle is back, and it's more Australian than ever.

Nearly a decade after it left our supermarket shelves, the iconic confectionery bar is set to be resurrected by South Australian company Robern Menz, who acquired the brand from multinational corporation Nestle.

The 150-year-old family-owned business will take over the trademark and recipe a year after it acquired celebrated Australian bar Violet Crumble in a similar deal. The latter went on sale in October.

The company hopes to manufacture the marshmallow-filled choc-covered wafer bar in its Adelaide factory if possible.

Robern Menz chief executive Phil Sims said devoted Polly Waffle fans had lobbied hard for its return, including a 55,000-member-strong Facebook page.

"Since taking over the Violet Crumble brand we have been bombarded with ... questions - when are you bringing back the bags of Violet Crumble and when are you bringing back Polly Waffle?" he said.

"As an Australian family-owned business, we have a real affinity for local brands and to have the opportunity to revive them and bring them back into the market is such a privilege."

The Polly Waffle was created by Melbourne confectioner Hoadley's Chocolate in 1947 before being acquired by British business Rowntrees in 1972 until the company was taken over by Nestle in 1988. The line was discontinued by Nestle in 2009.

The relaunch comes with a kicker: the return of the Violet Crumble 180g bag, containing bite-sized versions of the choc-honeycomb bar, which will go on sale in March.

But there's been no official word on when the Polly Waffle will hit the shelves, meaning you'll likely be waiting a few months yet.