Australian fast bowler Mitchell Starc has turned down close to $1 million after deciding to sit out the lucrative Indian Premier League Twenty20 cricket competition.

Starc’s IPL franchise Royal Challengers Bangalore announced on Sunday the left-armer had been released, while fellow paceman Josh Hazlewood will also miss the sports richest tournament.

Starc was on a deal worth approximately $A973,000 when he signed during the 2014 auction.

It means both members of Australia’s new-ball pairing will be missing from the IPL, with Hazlewood, who previously signed for the Mumbai Indians, failing to nominate for Monday’s auction.

Starc and Hazlewood both played all six Tests during the recent home summer. The expectation is they will play all four during the series against India that starts on Thursday.

The quicks are understandably keen for a break as they look towards the 2017/18 Ashes, with the IPL starting a week after Australia’s tour of India finishes.

“It is in my best interests, both physically and mentally, for me to have a break, spend time with my family and take the opportunity to work on getting back to full fitness,” Starc said.

“I certainly hope to be back playing for them (Bangalore) in the future.”

Starc, who required 30 stitches in his left leg after a freak training accident last September, will use the time at home to rebuild his strength and fitness.

“Mitch has had a very big summer, bowling a high number of balls, and has managed extremely well considering the less than ideal preparation,” Cricket Australia high-performance chief Pat Howard said.

Josh Hazlewood also won’t take part in this year’s IPL.

Starc played no part in last year’s IPL competition because he was recovering from ankle surgery, while this will be the third straight IPL season Hazlewood has skipped.

The T20 league falls in Australian players’ official leave period. It presents all of them, especially fast bowlers, a conundrum.

“It’s not tricky. You can’t have your cake and eat it,” former skipper Steve Waugh told AAP last year.

“If you’re not willing to rest when you’ve got an opportunity, then you can’t complain when you are tired while playing an international match.”

Meanwhile, IPL club Rising Pune Supergiants have installed Steve Smith as skipper ahead of Indian icon MS Dhoni.

Australian captain Smith, Mitch Marsh and Adam Zampa played under Dhoni at Pune last year.

-with AAP