Each woman will grace her own individual cover, all of which were unveiled during a broadcast special on TNT.
This is the first time SI Swimsuit has produced multiple covers of its iconic issue. The 2016 edition goes on sale Monday.
"What defines beauty today?" SI Swimsuit Editor M.J. Day said in a statement Sunday. "The truth is, times have changed and one size does not fit all. Our position on beauty is well-known -- healthy, curvy, vivacious and bold. It's not a size. The three cover models -- Hailey Clauson, Ronda Rousey and Ashley Graham -- demonstrate that.... So, we don't have just one cover, because beauty doesn't take just one form."
"I'm shaking and crying. I love it so much because it represents three different strong and beautiful women," Clauson said.
"I'm insanely speechless," Graham added. "I cannot comprehend how I feel right now. This will go down in the books forever. It is a historic moment. Not only is this the first time that I'm in the issue, but I'm on the cover and sharing this honor with two of the most stunning women. This is for all the women who didn't think they were beautiful because of their size. This is for them."
"It's a real honor being part of such a historic issue that really pays homage to different body types of women and not promoting just one cookie cutter image for every woman, but showing that the healthiest version of every body type is the sexiest version out there," Rousey remarked. "And I couldn't be happier... I think I was just as honored to get it as to be there in person to watch Ashley's reaction."