Australian scientists are planning to spend millions of dollars on a crazy project to bring a fearsome Tasmanian tiger back to life.

Boffins in Australia and the US want to see if it will be possible to bring the thylacine back from extinction.

The marsupial tiger died out in the 1930s however if all goes to plan it could soon be roaming the plains of Tasmania again.

READ MORE: 'Real life Jurassic Park' plan with woolly mammoths and dinosaurs back from dead

It was Australia’s only marsupial apex predator at the time of its life and looked like a dog with tiger-like stripes across its back.

Due to hunting, its population diminished and the last of the species died in captivity in 1936.

The move is the idea of Colossal, a US-based biotechnology ‘de-extinction’ company.

The ambitious company have already announced plans to bring back woolly mammoths and return them to the Arctic.

They aim to recreate the animals by taking stem cells from similar species with similar DNA and then gene editing to change the cells.

Using new marsupial-specific assisted reproductive technologies, these stem cells would be transformed into embryos.

These would then be inseminated into an artificial womb to gestate.

If successful, the company believes the animals could be un-extinct within 10 years and shortly after released back into the wild.

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