You can enter right here...
The festival has teamed up with events management company Hot Vox and online platform ReverbNation for its New Blood competition, which is open to artists and bands from across the UK.
To enter, all you have to do is submit an original song that you feel best represents you via this form right here.
Isle of Wight organiser John Giddings said: “There are so many great unsigned artists out there so this is all about discovering them.
“It’s fantastic to give new bands and new talent the chance to play at one of the biggest festivals of the summer, featuring legendary acts.”
“Every band in the country should be putting themselves forward for this!”
The judges will choose the “most talented submissions” to go through to the Live Rounds, where each artist will then be judged on “musicianship, songwriting and fan engagement”.
There’ll also be a fan vote element at each live show.
After the quarter and semi-finals, there’ll also be a Grand Final gig held at the O2 Academy in Islington, London on Sunday, May 27.
At the final, special guest judges will pick the main winner who’ll get to play at the Isle of Wight Festival 2018.
In addition to the standard judging process, whichever submission gets the most votes on the HotVox website will also get a bye straight to the Grand Final.
The 2018 Isle of Wight Festival takes place from June 21 to 24 and is headlined by Depeche Mode, The Killers, Kasabian and Liam Gallagher.
Other acts already confirmed across the weekend include The Script, James Bay, Blossoms and Van Morrison.
Tickets are available now and are priced at £75 for day tickets on Saturday and Sunday (with Friday day tickets at £65) and £209 for weekend tickets (£175 for students).