Faldo's renovation of the Ballyliffin Old Course was unveiled last June

The event will see young Irish golfers aged from 11 to 21 competing over 54 holes at Ballyliffin's Old course which was recently renovated by Faldo.

Competitors will also benefit from seminars at the 25/26 May event.

"I'd like to thank Ballyliffin for supporting this new tournament," said the six-time major winner.

"I've had a long association with Ballyliffin and I'm confident that they will make an excellent host and the Old Links will certainly be a worthy and challenging test for our Irish tournament."

The Ballyliffin tournament will be among a number of Faldo Series events taking place in Europe throughout 2007.

"We will then invite the winners from each tournament to the annual Faldo Series grand final which now takes on a much more international flavour.

"I'm very excited about this development, which will represent an entirely unique opportunity for these young golfers to benefit from the experiences of competing and integrating with their peers from across the world," added the British golfing legend.