The Winterheart race season begins on January 29th and concludes on February 25th. The main hook of the season is that characters move faster when on chilled ground, which will be all over the game. There are 155 smaller events that fall under the overarching umbrella of the fixed seed event, including new game modes like races that start in later acts and no-portal party races.
Naturally, there are some tantalizing winter-themed rewards for accumulating those seasonal points, so plan accordingly and may the odds be ever in your favor.
Source: Official forums