The Pakistan Cricket Board (PCB) will launch their own lucrative Twenty20 competition, called the Pakistan Super League, in March.
The league is set to be contested among five franchises, who will each be allowed to sign a total of six players from overseas.
PCB chairman Zaka Ashraf, who unveiled the competition alongside former International Cricket Council chief executive Haroon Lorgat, hopes that the competition will help pave the way for international cricket to return to the country.
"Haroon Lorgat and the other organisers are working together to make this a grand success for Pakistan cricket," Ashraf said.
"They are hopeful overseas players will take part in the league with the response from players and their agents very positive so far.
"This is a $100 million project we hope will open the door for international cricket to return to Pakistan."
No Test-playing nation has visited Pakistan since 2009, when six policemen and two civilians were killed after a gun attack on Sri Lanka's team bus in Lahore.
Bangladesh recently agreed to tour Pakistan but subsequently scrapped the idea, saying they still had concerns over player safety.
Lorgat added: "The PCB is working hard to make this T20 league a success and I hope with the involvement of overseas players it will change the perceptions people have about playing in Pakistan."