Turn 4, for the slowest point on the fast, flowing, layout, has long been colloquially known as Honda.
However it has now been officially renamed to Miller Corner in celebration of the four-time MotoGP race winner.
The new name was unveiled in a special ceremony ahead of MotoGP qualifying at Phillip Island today and the category enjoys its first visit down under since the global health crisis.
"I remember coming here for my first time watching a Grand Prix in 2009 and being able to sneak up over here," said an emotional Miller.
"Ever since that day I've been hooked. I knew from then on, that's what I wanted to do.
"To be back here, having this honour, is amazing. I can't even begin to describe the journey we've been on and what we've been through.
"I've been so fortunate in this sport, what it's given back to me. I love this sport immensely and I'm thankful to everyone who put this together. They don't really know exactly what it means to me."
Miller added that it was a particularly fitting corner to bear his name given some of the passing he's done there during his career, particularly on his way to a Moto3 race win back in 2014.
"I remember back to the Moto3 race here, the amount of dive-bombs I put on here," he said.
"It's an unreal part of the track, and so many historical moments have happened here. So I feel so fortunate to be able to claim this one."
Miller is the fourth grand prix rider to have part of the iconic Phillip Island layout officially named after him.
The lap starts with Gardner Straight, named after Wayne Garnder, while the fast right-hand Turn 1 is known as Doohan Corner after the great Mick Doohan.
The sweeping left-hander that precedes Miller Corner, meanwhile, is known as Stoner Corner thanks to Casey Stoner's Island exploits.
According to Australian Grand Prix Corporation CEO Andrew Westacott, Miller deserves to have his name on the official track map.
"It's a wonderful honour," Westacott told Motorsport.com. "To have something named after you is exceptional and special.
"And he deserves it. He's got four grand prix wins now and he's a great ambassador for Australia."
This is Miller's first and only appearance on home soil as a full factory Ducati rider, ahead of his move to KTM in 2023.
He was sixth fastest on combined times from the three practice sessions.
