Beginning on the Remarkables Ski Area and finishing on the other side of the valley, at the Coronet Peak Ski Area, the race will incorporate skiing or snowboarding, mountain biking, kayaking, running and cycling over the 44km course.
Race director Geoff Hunt said entries for the prestigious race were increasing all the time and while elite athletes like Dougal Allan, Mark Williams and Gavin Mason continue to create record winning times, the Peak to Peak was achievable for all levels of competitors.
"For people who like to do multisport events or want to start out, the Peak to Peak offers a great opportunity, either to race as an individual or in a team.
"While the top of the field battles it out for individual honours, it is the teams' event which always creates the most interest and camaraderie."
After a 2km ski or snowboard on the Remarkables down to the access road, a 17km mountain bike ride down the high altitude road takes competitors to the shore of Lake Wakatipu at Frankton.
A 7km paddle on the lake finishes at Queenstown Bay, where the changeover will be made for a 9km run from Queenstown, through Arthurs Point, to the Coronet Alpine Hotel.
The final stage is a 9km cycle up Coronet Peak's access road to the base building and the finish line.
Race categories include male, female, veteran and junior individuals.
The teams' sections include open, female, mixed, business house, school and veteran.
"Every year there is growing interest in the Peak to Peak, Mr Hunt said.
"We are seeing more women and more teams taking part in particular, and there is always a huge buzz around the event.
"There is something about standing at the top of the Remarkables and looking across to Coronet Peak at the finish line, and knowing that is the goal to achieve.
"People who complete the race for the first time find it hard to express just how satisfying that achievement is."
2011 Results
• First Men's Open: Dougal Allan (2.20.52).
• First Women's Open: Simone Maier (2.31.08).
• First Teams' Open: Fergburger Queenstown (2.03.06).