And the competition will be open to aspiring stars just 12-years or older, according to EW.com.
The auditions are set to start on March 27 in Los Angeles and then Chicago, Dallas, Miami, New York/New Jersey and Seattle will also host auditions.
According to Entertainment Weekly, Cowell, 51, said in a statement: 'I like the idea that a 12-year-old on this show can compete with an older singer and a singing group.
'I've never believed that there should be a cut-off age for talent, and we are going to put our money where our mouths are with the $5 million recording contract.'
He added: 'I'm doing this show in America because I genuinely believe that we can find a superstar.'