All 2000 places had been filled.
Gemma Boyle, the event director, said the sellout was one of the quickest in recent years.
She attributed the popularity to the introduction of cash prizes and by early entrants being allotted better starting positions.
Organisers were inundated with requests for late entries, but these would not be allowed, Miss Boyle said.
"We would love for everyone to be able experience the Motatapu on bike. However, we have reached our self-imposed entry limit [of 2000 entries]."
Spaces could become available if pre-allocated sponsor entries were not used.
Organisers said they would notify people via email if this occurred.
• Entries for other Motatapu events are still open. These include the off-road marathon (330 entries), the Arrowtown 15km miners trail (220), the Motatapu triathlon (105) and the multisport event (20).