Test player Hughes died in November aged 25, two days after being struck on the top of the neck by a delivery during a domestic match in Sydney.
A Cricket Australia statement read: "We have a responsibility and obligation to look into the events of that day."
The statement added the review was not about blame but "preventing an accident of this nature happening again".
Cricket Australia chief executive James Sutherland added: "When this tragedy happened, I said that it was a freak accident, but it was one freak accident too many.
How can cricket helmets be made safer?
Hughes, who also played for Hampshire, Middlesex and Worcestershire, was hit by a delivery from bowler Sean Abbott.
His death stunned Australia and sparked thousands of tributes from around the world.
Around 5,000 people attended the funeral in Hughes's home town of Macksville, New South Wales, with the service broadcast live to millions of people on Australian television.
After the incident, a British-based company designed a new helmet with a 'stemguard' - a device made of foam and a rubber-like compound that clips onto the back of a helmet, aimed at preventing another tragic death. - BBC
