It was pulled from the shelves in 2009, to the uproar of Aussie chocolate lovers.
Robern Menz will be using the original Hoadley's recipe, much to the joy of fans.
But the fourth-generation family business wants to be entirely faithful to the brand - and is therefore building the equipment to get it exactly right.
Robern Menz CEO Phil Sims told 7NEWS, “Polly Waffle is a unique chocolate bar, and although it may sound simple enough - with its combination of chocolate, wafer and marshmallow - it actually requires a number of fairly complicated processes to create."
Because the chocolate has been out of production for more than a decade, Robern Menz requires the custom-built machinery to bring the bar back to life, and its project team is working with experts worldwide to do this.
The Polly Waffle will be back on shelves in 2020.
"Technology has advanced significantly since Polly Waffle was first produced in Australia, so we want to thoroughly examine all options before selecting the best one," Sims said.
So fans of the iconic chocolate bar may have to wait a while - but the confectioner promises it will be worth it.
"We know products like Polly Waffle and Violet Crumble carry emotional significance and we, therefore, have a responsibility to meet people’s expectations," he said.
"We’re focusing a lot of energy and resource into ensuring Polly Waffle is as tasty as people remember and can’t wait to share it with the public soon.”