It's shiny new recipe is also endorsed by Coeliac Australia, making it completely safe for those with gluten allergies and intolerances.
Naturally, the news has been met with excitement from fans who have been missing out.
"Finally I can be a true Aussie again!!!" one delighted eater wrote.
Another said: "Man I have missed you Vegemite, looking forward to having you back in my life."
While a mum of a boy with a gluten intolerance cheered: "Thanks for listening to us. My son said to me "It's not Australian" when he couldn't have vegemite due to a Gluten intolerance and I am too... and MISSED it."
"OMG!!! I'm going to be a happy little Vegemite again," another declared.
There was a similar reaction on Twitter too, with fans rejoicing over the change.
Others however admitted they were "skeptical" about the drastic change to the recipe.
One fan wrote: "I'm skeptical but curious".
"Are you sure it's as good as the original stuff?" another mused.
In order to achieve their modern twist the brand has created an alternative to brewer's yeast, revealing in a response to a fan that they'd "nailed" the flavour.
"Working with bakers we created a gluten free yeast, we think we've nailed the Vegemite taste for those avoiding gluten and can't wait to hear the feedback!"
It will be available in a 235g jar and sold in supermarkets across the country.
According to the charity, one in 70 Australians have coeliac disease and four out of five people remain undiagnosed.
Vegemite has long been a love it or loathe it brand since it's inception in 1923.
With it's fancy new take on the classic, the brekkie favourite has maintained its place on Aussie plates.
