In a statement New Zealand Rugby says the review is to ensure the future success for the clubs and competition on and off the field.
It says the review, called Aratipu - is about growing, regeneration and invigoration.
Blues Chair and Barrister, Don Mackinnon will Chair Aratipu and will be joined by Chiefs Chair, Tonia Cawood, Hurricanes Chair, Iain Potter, Crusaders Chair, Grant Jarrold, Highlanders Chair, Doug Harvie, Private Investor Representative, Liz Dawson, NZR Chair Brent Impey and NZR Chief Executive Mark Robinson.