Bryce Harper of the Washington Nationals and National League celebrates with the trophy after winning the T-Mobile Home Run Derby at Nationals Park on July 16, 2018 in Washington, DC.
And for the first time ever, the top prize for the winner will be $1 million.
The Home Run Derby pits some of the league's top sluggers against one another as they see who can hit the most home runs.
Last year, the total prize pool for the home run derby was only $525,000, with the winner taking home $125,000.
With $1 million of the $2.5 million prize pool going to the winner, expect the competition to be more fierce with significantly more money on the line.