The Dunedin City Council is considering extending its permanent CBD liquor ban to include North Dunedin, which would rule out drinking, or carrying open alcohol containers, in the streets.
University of Otago vice-chancellor Prof Harlene Hayne said the Hyde St party would play a role in the DCC's liquor ban decision.
"What happens [tomorrow] will undoubtedly have a major influence on the nature of the submissions," she said in a statement.
"Everyone will be watching what happens at this party."
This year, the university and the OUSA have become involved with the event by promoting a glass ban for the duration of the party and making sure food is available and portaloos on site.
The OUSA plans to actively enforce the glass ban by having people on the street and at both entrance points, encouraging partygoers to dump their glass.
If people did not dispose of their glass, they would be asked to leave and could be fined.
Local off-licence premises have also agreed to offer plastic containers for people going to the party, while the council has agreed to close the street for the day.
Police say while they would prefer the party did not happen at all, because of the level of drunkenness, injuries and disorder that results, it is now an annual event and the best thing they can do is work with everyone else to make it safe.
Last year, seven people were arrested at the party.
One Lincoln University student said she knew about 80 people who planned to attend.
"Most of my friends from Lincoln are going," Olivia Fox (18) said.
"The Hyde St keg party is crazy."
Emergency response manager for the Dunedin-Clutha area, Acting Inspector Allan Grindell, said while the glass ban was not law, and would rely heavily on peer pressure and advertising to be effective, the OUSA deserved some credit for the ban and the work it was doing around the party.
A police operation would run as usual for the day, with extra staff on duty specifically to cover the keg party. Officers would patrol the area on foot all day.
The efforts by everyone involved in the event, including the Hyde St organisers, to keep partygoers safe were impressive, he said.
"It's a good positive vibe at the moment."
He was sceptical all the people who indicated they would turn up, would.
Mr Edgar said he was confident the event would go well. Much effort had gone into the glass ban, which was being trialled as an alternative to the liquor ban.
The OUSA is championing a petition against the introduction of the liquor ban in North Dunedin.