Bowler, who was well-received by fans of the local adaptation, hosted two seasons of the show for Seven in 2011 and 2012.
Produced by activeTV, the series went on to win an International Emmy award.
The third season is to be produced in-house by Seven and sees Aussie teams compete against teams from New Zealand. The change in producers is understood to be part of a cost saving by the network, which prides itself on internal productions.
Retaining Bowler in the hosting position will keep some synchronicity for the audience.
Shooting is expected to begin in March, travelling to more international territories.