Gates open at 6 p.m. near Newberry Street and The Alley. Officials say they expect between 8,000 and 10,000 people.
There will be 14 lobster races in heats of five with the first set of seven races beginning at 7:30 p.m. and the second set starting at 8:15 p.m.
"The winners go back to the ocean and the losers get the melted butter award," said Kara Flanders, a race organizer.
Proceeds will go to charities that benefit Tri-Development Center of Aiken County, Hitchcock Healthcare, Special Olympics and other groups.