The eight teams will take it in turns to pick from the available pool of players.
The team who finished last in 2021 (London Spirit) get the first pick, the seventh-placed team (Welsh Fire) second and so on.
In total there are 43 spaces up for grabs in the squads with some teams having more spaces available than others. Welsh Fire have the most with seven.
To complicate matters players have set their 'reserve price', their minimum salary, and must fit into the vacant salary bands in a team's squad.
The Fire have two spaces at £125,000 and one at £100,000 - the highest pay brackets - so are in position to splash cash.
Teams can also have one right-to-match card which they can use to match an attempted signing of a player who was in their squad in 2021.
Who has entered the draft?
Video content
Video caption: 'Phenomenal' flying catch from De Kock removes Inglis for 55'Phenomenal' flying catch from De Kock removes Inglis for 55
Some big international stars have entered the men's draft in the hope of getting a deal.
Among them are Australia opener David Warner, Pakistan captain Babar Azam and West Indies trio Kieron Pollard, Andre 'Dre Russ' Russell and Dwayne Bravo.
South Africa's Quinton de Kock, who played for Southern Brave last year, is also back in the draft.
England internationals Tom Banton and Liam Dawson have entered after failing to agree deals to stay at their teams.
Joe Clarke, previously at the Manchester Originals, is another domestic player hoping to pick up a bumper deal.
Click here for more on the overseas names up for grabs
What is this all about?
Getty ImagesCopyright: Getty Images
After the inaugural season last year, the men's Hundred teams were able to retain up to 10 players in their 15-strong squads.
All those not retained, and hundreds of other players both domestic and from overseas, were then able to put themselves into the draft in an attempt to secure one of the vacant spaces in teams' squads.
Post update
Hello. The cricket never stops. No sooner have England's women returned from their World Cup exploits and the men flown home from the Caribbean we're already looking towards the summer (the county season starts this week!).
Today the signings for the second season of The Hundred are revealed following the men's draft.
The draft was held yesterday and the signings will be announced throughout the afternoon - the first two teams at 12:00 BST.
Post update
Getty ImagesCopyright: Getty Images
David Warner or Kieron Pollard? Babar Azam or Quinton de Kock?
Some of the biggest names in cricket have been up for grabs in the men's Hundred draft.
Throughout the afternoon we'll find out who will be playing where in 2022.
Live Reporting
Matthew Henry
All times stated are UK
How does the draft work?
The eight teams will take it in turns to pick from the available pool of players.
The team who finished last in 2021 (London Spirit) get the first pick, the seventh-placed team (Welsh Fire) second and so on.
In total there are 43 spaces up for grabs in the squads with some teams having more spaces available than others. Welsh Fire have the most with seven.
To complicate matters players have set their 'reserve price', their minimum salary, and must fit into the vacant salary bands in a team's squad.
The Fire have two spaces at £125,000 and one at £100,000 - the highest pay brackets - so are in position to splash cash.
Teams can also have one right-to-match card which they can use to match an attempted signing of a player who was in their squad in 2021.
Who has entered the draft?
Video content
Some big international stars have entered the men's draft in the hope of getting a deal.
Among them are Australia opener David Warner, Pakistan captain Babar Azam and West Indies trio Kieron Pollard, Andre 'Dre Russ' Russell and Dwayne Bravo.
South Africa's Quinton de Kock, who played for Southern Brave last year, is also back in the draft.
England internationals Tom Banton and Liam Dawson have entered after failing to agree deals to stay at their teams.
Joe Clarke, previously at the Manchester Originals, is another domestic player hoping to pick up a bumper deal.
Click here for more on the overseas names up for grabs
What is this all about?
After the inaugural season last year, the men's Hundred teams were able to retain up to 10 players in their 15-strong squads.
You can see has been retained by each team here.
All those not retained, and hundreds of other players both domestic and from overseas, were then able to put themselves into the draft in an attempt to secure one of the vacant spaces in teams' squads.
Post update
Hello. The cricket never stops. No sooner have England's women returned from their World Cup exploits and the men flown home from the Caribbean we're already looking towards the summer (the county season starts this week!).
Today the signings for the second season of The Hundred are revealed following the men's draft.
The draft was held yesterday and the signings will be announced throughout the afternoon - the first two teams at 12:00 BST.
Post update
David Warner or Kieron Pollard? Babar Azam or Quinton de Kock?
Some of the biggest names in cricket have been up for grabs in the men's Hundred draft.
Throughout the afternoon we'll find out who will be playing where in 2022.