"We want to encourage the students to have a go and do their best to win, as the prize is significant," he said.
"Harcourts Rotorua is looking forward to being able to provide one lucky school the opportunity to skate for the day."
He said depending on the size of the school they might have to book it out for a whole day on June 18.
The competition winner will also win a meal for themselves and four friends at the grand opening, called Breakfast On Ice.
Mr Austin said people in the community could buy tickets to the grand opening breakfast, with all proceeds going towards Rotorua Hospice.
He said the opening breakfast would include celebrities, who are yet to be confirmed, and all attending would get an opportunity to have a skate.
"Harcourts Rotorua is really excited and looking forward to bringing the ice rink to Rotorua as it is such a unique and fun attraction, especially for the winter months".
The rink, which measures 35m by 15m, will be at the Village Green from June 15 to July 15.
"I know my boys are very excited about the chance to go ice skating, as am I," Mr Austin said.
Events and Venues Rotorua, with support from Rotorua Harcourts, were behind the effort to bring the ice-skating rink to Rotorua.
Prices to have a skate on the temporary ice rink include adults $20, children $15 and family $50.
A $5 local discount voucher will be offered to Rotorua residents.
Children entering the colouring competition must be in a school within the Rotorua district and use the colouring in page in today's Daily Post.
Three guest judges from The Daily Post, Rotorua Radio Network and Rotorua Harcourts, the businesses supporting the competition, will judge the children's work.
The winner will be announced during their school's assembly and entries close May 25. Entries should be taken to the Harcourts building on Whakaue St.