Riot Games has announced a global eSports circuit for League of Legends.

The League of Legends Championship Series is a new professional gaming league that will feature the top eight teams from North America, Europe, and Asia, battling it out in multiple weekly regular season games with the hope of making the regional playoffs.

From there, a World Championship series will determine the world’s best LoL team.

All games will be streamed globally in HD for free.

“Talking to players around the world, they repeatedly asked if we could kick League of Legends eSports into higher gear,” said Riot Games CEO Brandon Beck.

“The new League of Legends Championship Series is our answer. Millions of fans tune in every time we support a major League of Legends tournament, so we're broadening that support in an unprecedented way.”

According to Riot, millions of dollars of prizes will be up for grabs, including salaries, prize pools, and other compensation for Championship Series teams, which will “ensure League of Legends is a sustainable career choice for professional players”.

The top three teams from the upcoming Season Two North American and European Regional competitions will automatically qualify for the league.

The League of Legends Championship Series begins in 2013.