The opening will include the Velocity Valley Freestyle AirBag Big Air Comp, children's artwork on display, stilt walkers, unicyclists, an Amjazz performance and a Rotorua Boys' High School kapa haka performance.
Skyline and The Hits will be there too.
Dimozantos said the response to this year's events had been great.
"Reaction has been really positive, and in particular with the rebranding and how colourful the festival is - the feedback on that has been really good and we are stoked about that."
The festival would have something for everyone, she said.
"It's about celebrating the community through biking, not necessarily celebrating bikes."
Debbie Guptill, Velocity Valley Freestyle AirBag Big Air Comp event organiser and Velocity Valley sales and marketing manager, said the event was free to watch.
She said there would be a massive 6m scaffold drop and ramp which enabled tricksters to attempt aerial tricks before landing on the freestyle airbag.
She said they had a small ramp this year, as well as a bigger one to propel the bikers into the air.
The finals will be from 6pm.
"It's a show-stopper event. It enables them to come out and put their best tricks forward to the spectators, and is ultimately for them to be able to master things they haven't done before.
"It's pretty spectacular to see this at the Village Green and show the talent we have in Rotorua."
For more information about the festival's programme go to rotoruabikefestival.com.
