The 45-year-old will make a surprise return to World Superbike action this weekend, turning out for Ducati in place of the injured Davide Giugliano.
Bayliss retired at the end of the 2008 season after claiming the world title, with his 52 WSBK race wins second only to Carl Fogarty in the all-time standings.
The Australian is hoping first and foremost to entertain his home crowd, but as always he's eyeing a position high up the standings.
“With the way it has worked out, being the 25th anniversary of WorldSBK at Phillip Island, when the opportunity arose I thought I should be here…not for me, but for the people and for Phillip Island," he explained.
"It’s a chance to come back and work with the people I used to work with. Hopefully we can have a good weekend and do a good result. You never know how it’s going to turn out, but I would love to have a good weekend.
“I think that’s a very big call," he added of a possible race win.
"I would like to get a good result but it’s step-by-step, I’ve got to ease my way into it. If things start to come my way and I feel good on the bike, there is maybe a chance that I can do a really good job, but let’s just start with trying to do a good job!”