Organised by the Friendly Bay Boat Society, the event will be based at Friendly Bay and the first race will start at 1pm on February 6.
The day's events include Seagull outboard motor races, sailing races (open class), dinghy rowing races, coracle jousting and a demonstration.
Entertainment on shore includes live music by Johnny and the Cashtones and Two Dollar Robot, a sandcastle competition, boat displays and coffee and food.
Organiser Mike Harris said the event would be a fun, family day at Friendly Bay.
''It's not a highly competitive event,'' he said.
''Anyone is welcome to bring along any rowboat or sailing dinghy - it doesn't matter what shape or size ... it's all about participation.''
Mr Harris expected between 20 and 40 participants. The society hopes to see its flagship, a 1960s Flying 15, back in the water for the regatta.
The regatta has been running for the past five years and has grown from the traditional boats day, which was last held in 2008.
The traditional boats day focused on traditional beach activities and included sack races, sand castle-making, egg-and-spoon races, a bathing belles competition, a talk-like-a-pirate competition, novelty races and a Seagull boat race.
''After the [Oamaru Victorian] Fete about five years ago, there was just a group of us sitting down at the Criterion and said we should put on a boat day,'' Mr Harris said.
The Friendly Bay Boat Society was formed out of the organising committee for the 2010 Oamaru Harbour Regatta, which was held on March 14 that year.
The harbour regatta is the society's biggest event but members are active throughout the year, running a workshop and public display area at their Tyne St boat shed, as well as smaller events and promotion of the use of the harbour.
''We do promote use of the harbour in various ways, encourage people to get out in the water, out in the harbour in any craft,'' he said.
