The Scots suffered an agonising five-wicket defeat to the Mitchell Marsh-led Aussies at the T20 World Cup in June.
But Watson is relishing the chance to face them three times at The Grange between September 4-7.
"I'm hugely excited," he told Cricket Scotland.
"It's a wonderful opportunity to play one of the best teams in the world, and I'm pretty sure that our players won't need any motivating for this series.
"It's a great opportunity for them to share the field with world-class players. They're wanting to put in some huge performances and compete, and really push this Australia team.
"The goal for us is to win this series. The first game is really important - if we can win that, it'll set up the next two matches. The whole week will be brilliant for the squad, staff, supporters and all of Scotland."
All 15 players selected for this summer's T20 World Cup are available to play during the series and they will be joined in the squad by the recently capped pair of Charlie Cassell and Jasper Davidson.
"After coming into the squad at CWCL2 and doing so well, it'll be great for Jasper and Charlie to have the experience of what it's like playing against the best, in front of a fairly large crowd," said Watson.
"I think the key thing is the guys are really competing for places. I've got to mention Oli Hairs, who didn't play at the World Cup, but then made that brilliant 255 for Scotland A against Oman.
"It truly was a fantastic innings, he hit the ball so well, and it was so good to see him at his best."
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