The Rotary Club of Youngtown's Soggy Bottom Cardboard Box Boat Regatta asks participants to craft a boat out of cardboard and duct tape, which is then used to race across Waverley Lake.

Publicity officer Judy Kingston said it's a fun day.

"Bring the whole family," she said.

"Just sit back and enjoy the races if you don't want to bring a boat, but we really encourage everyone to."

This year's event would start with the wet races, and then move onto dry boat races on land.

Divisions would be split into ages 12 and under, 13 to 17 years old, and 18 and older.

Ms Kingston said it was a big day to organise, especially as the event was now in its third year.

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"We're bringing a lot of organisations together for the day," she said.

"We've got a committee that we've formed, and we're very active. You've got to bring a lot together for a day like this, even down to getting portaloos in and that sort of thing.

"A lot of people have to come together to get this event up and running."

Ms Kingston said alongside the Rotary Club of Youngtown, members of other clubs such as Inner Wheel and Rotaract would also be involved.

Funds raised from the event will be directed toward mental health programs, including suicide prevention, and Australian Rotary Health programs for Tasmanian youth.

Ground rules and waivers are available online. Judging and registration will begin at 9am.