Ahead of the One Nation leader's closely watched address to the National Press Club, her surging political fortunes have sent the opposition and the government scrambling to respond.
Nationals Leader Matt Canavan, whose Senate seat could be at risk from One Nation if recent opinion polls are borne out at the next election, said Senator Hanson's rise presented a "massive opportunity".
"What we can see at the polls is people want change," he told Nine's Today program on Wednesday.
"What we've got to do is convince people in the next year-and-a-half or two years that the Liberal and Nationals parties the one that can offer the change that will lift living standards, secure our border, get our energy resources going again and get industry back to this country.
"Competition is a good thing for us."
One Nation is now beginning to divide up portfolios, with Barnaby Joyce expecting to take on Treasurer Jim Chalmers, The Australian reported on Wednesday.
Asked whether Mr Joyce's experience in government made him qualified to serve in the portfolio, shadow treasurer Tim Wilson said it depended on whether he was "flat out on a Braddon pavement", referencing an infamous online video showing the former Nationals leader splayed on a Canberra footpath at night.
"Barnaby has his own form of bluster. My focus is on how we make sure we build out a future economy for Australians," Mr Wilson told ABC Radio.
Senator Hanson's speech comes as it is revealed One Nation Senator Malcolm Roberts described the US in a 2024 podcast interview as "the world's greatest terrorist organisation" that had been hijacked by "globalist parasites", The Sydney Morning Herald reported on Wednesday.
"They can walk into any country on earth. They can bring Australia along with us, just like little patsies," he told Israeli podcaster Efrat Fenigson.
Senator Hanson has close ties with the White House and has been pictured attending events at US President Donald Trump's luxury resort in Mar a Lago.
Monash University head of politics Zareh Ghazarian said Senator Hanson's address should give an overview of what her party would be like, in addition to its broad policies and aspirations.
"One Nation is at a transition point from being a minor anti-establishment party to potentially being on the cusp of a major political breakthrough," he told AAP.
"There's a lot riding on this speech. It's going to be closely watched by media, but a lot of other Australians as well as the political parties.
"Hanson has to perform well to convince those on the fence, that her party and leadership is something to get behind."Â
Consistent polling has shown One Nation has become Australia's most popular political party, surging ahead of the coalition by a substantial lead, and Senator Hanson is also now the preferred prime minister.
Dr Ghazarian said part of her appeal of authenticity meant voters might be willing to give a leader who isn't polished a go.
To manage One Nation's rise, Labor is portraying the party as one of grievance rather than solutions as Australians grapple with a housing crisis and cost of living pressures.
The coalition has left the door open to preferencing their conservative rivals, but senior Liberals have ruled out doing a deal to avoid competing against each other for seats at the next federal election.
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