The new device, dubbed the Galaxy Note 10.1 (2014 Edition), will come with a 10-inch WQXGA Super clear LCD (2560 x 1600) resolution display, a 1.9 GHz Octa-core processor (for 3G / WiFi-only version) or 2.3GHz Quad-core processor for the 4G model.
It will have 3GB RAM, up from 2GB in last year's model, 16, 32 or 64GB of storage and a microSD slot to expand things even further.
Running Android 4.3, the device also offers the latest version of Wi-Fi (ac) and comes with a whopping 8,220mAh battery - also improved from the current model.
For those who plan to use the tablet as a camera, you'll get Samsung's standard 8-megapixel sensor for the rear snapper and a 2-megapixel offering on the front.
It's not just the specs that have been changed - the company says it has refined the design with a "sleek, light, slim frame that is both fashionable and portable". Also improved is the use of the S Pen, Samsung's stylus. The new stylus is said to improved responsiveness as well as new S Pen features such as Action Memo, Scrapbook, Screen Write and S Finder.
The new Scrapbook feature lets users indicate any interesting content with the S Pen and organise it into individualised scrapbooks. S Note has also been upgraded allowing users to take handwritten notes.
Samsung also plans to bundle a number of apps with the device from third parties such as Bloomberg Businessweek+, The New York Times, Autodesk Sketchbook for Galaxy, and a redesigned and optimised version of social broadcast network Twitter.
The Galaxy Note 10.1 (2014 Edition) will come in three connectivity options: WiFi Only, WiFi and 3G, and WiFi and LTE (4G).
There are two colour options, Jet Black and Classic White, and it will soon be available globally starting from Q3. No price has been revealed as yet.