In an unusual step by the magazine the women feature on three individual covers which were revealed during a televised event in New York on Saturday.
It is the first time that three very different body types have been represented by the publication in its annual bikini special.
An ecstatic Graham told the audience at Manhattan Center that the three covers were ‘representing every woman out there’
Bikini babes: Hailey Clauson, Ashley Graham and Ronda Rousey have been revealed as the cover stars for the 2016 Sports Illustrated Swimsuit Issue
Athletic: UFC pro Rousey, 29, is seen in a painted-on bikini as she kneels in shallow water
Perhaps least surprising of the three models announced was UFC beauty Rousey, 29, who was revealed last month to be featuring in the highly anticipated SI issue.
The MMA pro was pictured stripping off and posing in a painted-on bathing suit for a risque shoot in Petite Martinique.
The Californian – who also featured in last year’s swimsuit issue – had a disappointing year in the ring after losing her UFC bantamweight champion title to Holly Holm.
Maximum curves: Graham, at a size 14, is the first fuller-figured model to take one of the prized spots on the cover
Blonde beauty: Fashion model Clauson, 20, took the rookie spot in the 2015 Swimsuit edition
Graham, at a size 14, is the first fuller-figured model to take one of the prized spots on the cover.
She is pictured wearing a skimpy purple and yellow string bikini as waves crash around her.
The brunette beauty – who hails from Lincoln, Nebraska, took to Instagram earlier this week to confirm, alongside a sultry image from her shoot, that she will be featured in the issue.
The 28-year-old joins the ranks of Robyn Lawley, the first plus-size model to ever be featured in a spread in the issue last year.
In addition to her first-ever editorial and cover with the brand, Graham will also star alongside models Philomena Kwao and Nicola Griffin in plus-size retailer Swim Suits For All’s second ad.
Surprise! The women were brought out on stage as the hosts pretended to be announcing just one of them as the cover star
Overwhelmed: An ecstatic Graham told the audience at Manhattan Center on Saturday that the three covers were ‘representing every woman out there’
This year, Swimsuits For All will continue to make history by having 56-year-old Nicola featured in its ad, making her the oldest woman to grace the pages of the Swimsuit issue.
Graham has been vocal about hating the label ‘plus-size’ and previously told E! News: ‘I’ve got plenty of friends [of all sizes] and different shapes and everything,
‘And I don’t want any of them to feel like they aren’t ‘real women.”
Revealed: Eagle-eyed fans spotted Ronda’s distinctive tattoos in this snap by SI last month forcing them to reveal she is being featured in this year’s issue
Swimsuit babe: Rousey, 29, was pictured posing for an SI photoshoot in Petite Martinique earlier this year
Newcomer Clauson, 20, took the rookie spot in the 2015 Swimsuit edition.
But while she may be a newcomer to SI, the California native is a veteran in the fashion world having made her runway debut at 15.
She has also modeled for Gucci, Topshop, Jill Stuart and editorials in Vogue Italia, Vogue Japan and Elle.
Clauson poses topless wearing string green printed bikini bottoms while sitting in the ocean.
Sports Illustrated have not run separate covers for their multiple-model shoots in the past.
Mixing it up: Ashley has been vocal about disliking the label ‘plus-size’ and doesn’t want different size women to feel like they aren’t ‘real women’
Curvaceous beauty: The 28-year-old joins the ranks of Robyn Lawley, the first plus-size model to ever be featured in a spread in the issue last year
Rookie no more: Clauson, 20, may be a newcomer to SI but the California native is a veteran in the fashion world, having made her runway debut at 15
Most recently Nina Agdal, Lily Aldridge and Chrissy Teigen posed together for their issue in 2014.
The scantily clad lovelies were pictured topless in colourful bikini bottoms while peering over their shoulders at the camera.
Last year 25-year-old Hannah Davis was unveiled as the cover star.
The front-page image caused quite a stir as it showed the 5ft 10in beauty tugging at her bikini briefs.
Model-turned actress Kate Upton, 23, starred on the front page of the magazine in 2012 and 2013.
The blonde stunner has gone on to launch a movie career and starred in 2014’s The Other Woman with Cameron Diaz and Leslie Mann.
Revealing: Hannah Davis caused a stir when she starred on 2015’s cover
Natural beauties: Nina Agdal, Lily Aldridge and Chrissy Teigen wowed as they went topless in 2014
Sports Illustrated announced their 2016 cover model during a televised ceremony on Saturday which aired on TNT.
Nick Cannon and Rebecca Romijn hosted the one-hour event, which featured appearances from Gigi Hadid, ChrissyTeigen, Chanel Iman, Emily DiDonato, Erin Heatherton and more models from the 2016 magazine issue.
During the night five-time cover model Elle Macpherson accepted the Jule Campbell Award.
Teigen presented Macpherson with the honor, which recognizes her ‘iconic modeling career and business acumen.’
The award was named after former Sports Illustrated editor Jules Campbell, who according to the Chicago Tribune planned and directed the annual swimsuit issue since 1965.
The 2016 Sports Illustrated Swimsuit Issue hits newsstands on Monday.
Going places: Model-turned-actress Kate Upton, 23, nabbed the cover spot two years in a row in 2012 and 2013
Russian beauty Irina Shayk, 30, was the 2011 cover beauty