In the clip, a pool can be seen with $100 bills floating in it while a glowing red light illuminates the water.
Suddenly, Azalea swims by in a very revealing bikini while a clip from a possible new track plays a Scarface quote, "First you get the money, then you get the power."
The clip teases the date "JULY SIX," the day Azalea will drop a new project that may or may not include new music.
Many of her fans have commented on the clip, with many expressing excitement for the rappers return.
"I would say my body is ready but I'm already dead from waiting so long," one fan joked, while another quipped, "First you got the money and then you got the power and then you became the queen of rap."
"I miss your new music so much and I sure that it will be unforgivable and incredible," someone else gushed. "I'm proud of you and believe that new EP will be on top in many countries. You're really deserve it."
Azalea replied to many of the comments on the post, eventually revealing more details about the project, which is said to be titled Dream.
"It's a low key promo sorta kinda but more so a fun thing. I planned to do it, just It's not a high res app, so red cam etc.," she said. "That's pointless. This isn't for tv and other formats why waste on tech I don't need is how I see it. I want ppl to start seeing what's possible with just ur phone. it's more about imagination than anything."
In a separate post, a fan asked Azalea about putting out a new song that she played in the background on one of her Instagram Stories entries, to which Azalea replied that it will probably not get released.
"Honestly, it's just a verse I wrote to get s— off my chest a while ago and let, never did a hook or really made it a full song... was just in this vibe today and listened to it," she said.
"My project STS is really aggressive and dark - it's not something that's about being emotionally vulnerable - totally different vibe," she added.
Lastly, she thanked the fan "for liking anything I write because it's an extremely big compliment."
While details on the new project are cryptic at this point, Azalea fans can find out more when it tentatively drops on July 6, 2018.