More than $350,000 has been raised by Sally's Ride since it began and this year it hopes to raise about $20,000 to support Tasmania's Speak Up Stay ChaTY.
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More than 600 riders are expected to get on their bicycles on Sunday to partake in the event to raise funds for the positive mental health organisation.
The ride's chairperson Naomi Walsh said the event usually raised between $15,000 to $20,000 in rider entrance fees and hoped to raise similar this year.
"We're always hoping for a good weather day, we're tracking at the moment on registrations similar to previous years which is great," she said.
"Our 100km ride is probably our most popular ride...it will attract over 100 people into that particular ride alone.
"We've got people coming from Brisbane and Hobart and other places, so it's really exciting."
There are six ride options at the event from 160km, 100km, 70km, 45km through to two family and community rides.
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Proceeds will go towards Speak Up Stay ChaTY, which works to promote mental health and prevent suicide by reducing stigma and encouraging people to seek help.
Sally Ride began in 2002 when Sally Fletcher rode 1400km solo around Tasmania to raise funds for mental health, before the Launceston Rotary Club jumped on board in 2009 to rename it the Tamar Valley Cycle Challenge.
It aims to provide a healthy community activity for people as well as raise funds and awareness for youth mental health issues, with a particular focus on preventing youth suicide.
Incoming chairperson Chris Griffin said the ride began with a focus on road riding but had expanded to family and community aspects as well.
"As much as it's still about the main charity, it's equally about healthy lifestyles and getting people out riding," he said.
In previous years the ride's proceeds have supported Cornerstone Youth Services, Launceston City Mission, Resilient Youth Australia, CORES, MI Fellowship Australia/Aspire, Time Out House, Menzies research grant and UTAS research grants.
Online registrations close on Saturday at 5pm but registrations on the day will be taken at the ride's start line in Royal Park.
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