In 2014, it was reported that for the first time in nearly 90 years no "confirmed sightings" had been made of the Loch Ness Monster.
He said his team will take 300 samples of water from different points around the lake and at different depths.
In 2016, the inaugural Inverness Loch Ness International Knitting Festival exhibited knitted Nessie's made from all parts of the world.
That said, if the team does come across the genetic sequence of some immortal dinosaur or a behemoth previously unknown to science, they have promised to let us know.
Professor Neil Gemmell, lead author of the study, said: "Whenever a creature moves through its environment, it leaves behind tiny fragments of DNA from skin, scales, feathers, fur, faeces and urine".
Gemmell did not immediately return ABC News' request for comment.
"While the prospect of looking for evidence of the Loch Ness monster is the hook to this project, there is an extraordinary amount of new knowledge that we will gain from the work about organisms that inhabit Loch Ness", Gemmell said on his university website.
A little girl's video from Scotland's infamous Loch Ness has brought the search for its mythical occupant back to the forefront as a New Zealand scientist and his team hope DNA testing will reveal the truth, once and for all.
Gemmell said whatever is in the loch or even what was once there, will have left behind clues.
According to the Otago Daily Times, an global team of researchers from the UK, Denmark, USA, Australia and France will use environmental DNA samplings of the water to identify possible DNA remnants left behind by living species in the loch, the United Kingdom's largest freshwater body.
Test tubes of loch water will be matched against DNA databases in the UK, USA, Europe, Australia and New Zealand.
Environmental DNA sampling is now used to monitor marine life.
While they hope it will answer some questions about the elusive Nessie, even if they do not find any evidence to explain it, the myth is likely to linger for years to come.
A boat called the Deepscan will be used and control samples from three other lochs will be taken.
In popular culture, the Loch Ness Monster has reared its head many times, including in 1975's four-part Doctor Who - Terror of the Zygons, the 1980s cartoon The Family-Ness as well as The Simpsons and 1996's Loch Ness starring Ted Danson.
The monster's legend dates back almost 2,000 years, to a northern Scottish tribe that carved images of a unusual, flippered beast into its nature artwork - among the usual depictions of geese, horses and deer.
Nessie is said to have a long neck, with humps that protrude from the water - and more than 1,000 people claim to have spotted it.