Riders from across the country will compete for the coveted prize of being the fastest, and slowest rider in the country.
The championships have been held since 1994, with events including the Slow Race, last over the line wins, and the grand open which is three times "flat out" around the Victorian Precinct.
Another feature is to find the rider who can ride "the furtherest up Tyne St".
Oamaru Penny Farthing Club captain Annie Baxter said the high wheelers first appeared on streets around New Zealand in the 1880s, and it is known from Oamaru Museum archive photos that there was a club in Oamaru in 1882.
"The races are open to all penny-farthing and veteran bicycle riders where racing is the theme, but emphasis is on participation and enjoyment.
"All levels of riders are catered for.
"Riders are encouraged to wear the riding attire of the Victorian era, and this adds to the colour of the day."
As well as holding the race day, the club also builds penny-farthings, goes on tours with them and holds traditional bicycle camps.
Each of these activities helps fulfil the club’s mission of "bringing New Zealand and Oamaru cycling heritage alive, promoting the restoration and riding of early cycles and encouraging cycling as part of modern living".
— Allied Media
