Radio 2 will appoint its first artist-in-residence, who will get a 'golden pass' to the network's music events for 12 months, including this year's Glastonbury.
Up for grabs is a £15,000 bursary and up to £20,000 for expenses and materials from The Space, which is working with the BBC to find the artist.
The winner - who cannot be a musician - will need to produce four 'artistic creations' that would be showcased on the Radio 2 website and on The Space and will have the opportunity to be mentored by a leading figure in the arts world.
The initial round of applicants will be shortlisted mostly by an in-house panel: director of arts Jonty Claypole; Arts Show editor Helen Thomas; Miriam O'Keefe, the director of the BBC Performing Art Fund; and Sandeep Mahal, director of The Space.
Judging the shortlisted candidates is a panel that includes pop artist Peter Blake and Radio 2's Arts Show presenter Claudia Winkleman, who calls it 'a fantastic opportunity for someone to receive proper mainstream exposure for their work to over 15 million listeners'.
Blake says he's 'delighted' to be a judge, adding that 'finding and nurturing artistic talent is incredibly important for the cultural health of the UK'.
The search begins on Friday, with Radio 2's first artist-in-residence announced on The Arts Show on June 12.
Another first is exclusive, behind-the-scenes action from the Tony Awards in New York on June 7. Elaine Page, the presenter of EP on Sunday - a show celebrating Hollywood, Broadway and the West End - will be at the event to record a special programme for broadcast on June 12.
Radio 2 will additionally become the official broadcast partner of the Art Fund Prize for Museum of the Year, which awards £100,000 to the winner.
Radio 2 presenters - including Chris Evans, Ken Bruce and Sara Cox - will visit the six shortlisted museums and explain why they are worthy winners, while the shortlist itself will be revealed on The Arts Show in late April.
The winner will be announced on a special Ken Bruce show, named Friday Night at the Museum on June 26. The director of the winning museum will be guest of the Chris Evans Breakfast Show the following morning.
Bob Shennan, the controller of Radio 2, says: 'As the UK's most popular radio station with 15.28m listeners, there's an opportunity for Radio 2 to plays its part in Tony Hall's vision to make the arts accessible to everyone.
'I'm delighted to announce this exciting raft of new initiatives which enhance and complement our already distinctive programming schedule.'
Find out more about Radio 2's artist-in-residence here