New South Wales Premier Mike Bairds has reversed his decision to ban greyhound racing.

It follows an announcement by the premier three months ago, in which he declared a ban on the industry would come into effect in July next year.

The decision followed a report of a special commission of inquiry headed by retired judge Michael McHugh.

It found that up to 68,000 greyhounds had been euthanised in the past 12 years because they were too slow or unable to race.

A new policy will now focus on greater regulation for the industry, which had faced complete shutdown from July 1, 2017 due to a live baiting scandal and the mass destruction of ex-racing dogs.

An oversight body will also be tasked over the next few months to draw up a new governance, regulatory structure and all the finer details, the ABC reports.

Mr Baird’s change of mind follows a dramatic slump in the opinion polls and a revolt from some Nationals M-Ps.

– with other agencies