The Australian has been placed in a Thursday (Friday AEST) feature group with the world No.4 and LIV Golf frontrunner Joaquin Niemann at Augusta National Golf Club.
Lee shifted his US headquarters to the casino strip last year and plays regularly with Morikawa, who boasts third, 10th and fifth-placed finishes in his last three Masters starts.
The two-time major winner is among the tournament favourites with bookmakers, as is Chilean Niemann after his hot form on the LIV Golf tour netted two victories.
Lee won the Houston Open in his last start, the Masters tipping their cap to the new Australian No.1 by including him in one of two morning feature groups followed on a special tournament broadcast feed.Â
World No.1 Scottie Scheffler will launch his Masters title defence on Thursday alongside Justin Thomas and Spanish amateur Jose Luis Ballester in the other morning feature group.
Australia's former world No.1 Jason Day will partner three-time champion Phil Mickelson and Keegan Bradley in the group immediately following Lee's.
Australia's 2013 winner Adam Scott will be the last of the country's five-man contingent to begin in an afternoon group with world No.3 Xander Schauffele - a two-time major winner last year - and Norway's Viktor Hovland.
Irish world No.2 Rory McIlroy, seeking to become the sixth player to complete the career grand slam and first since Tiger Woods in 2000, will tee off alongside 2024 runner-up Ludvig Aberg and Akshay Bhatia.
Major champion-winning trio Hideki Matsuyama, Bryson DeChambeau and Shane Lowry make up another high-profile group.
Masters debutant Davis Riley will hit the first competitive shot of the week at 7.40am local time after honorary starters Gary Player, Jack Nicklaus and Tom Watson hit shots off the first tee.
The sun shone on Tuesday after heavy rain and storms forced the suspension of Monday's practice round before midday, however there is a chance of showers returning on Thursday.
AUSTRALIAN MASTERS GROUPINGS
* 8.52am (10.52pm, Thursday AEST) - Cameron Smith, JT Poston, Aaron Rai
* 9.47am - (11.47pm, Thursday) Collin Morikawa, Joaquin Niemann, Min Woo Lee
* 9.58am (11.58pm, Thursday) - Phil Mickelsen, Jason Day, Keegan Bradley
* 10.48am (12.48am, Friday) - Cameron Davis, Rafael Campos, Austin Eckroat
* 1.01pm (3.01am, Friday) - Adam Scott, Xander Schauffele, Viktor Hovland.
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