Organizers are hoping for a big turnout for Saturday's event.
Major setbacks, like flooding and bridge construction in the area caused organizers to take a year off, and that gave them time to make this year's celebration even better.
For those who grew up here near Bulwagga Bay in Moriah, the stories and sightings of Champ the lake monster are abundant.
"He saw a big lump come out of the water, and he started throwing rocks at it," said Isiah Ryan at Port Henry Village Beach.
"People always claim to see him. I don't know maybe I'll see him one day," said Sydney Mitchell, a lifeguard at Port Henry Village Beach.
But whether or not you've witnessed the legend for yourself, on Champ Day the myth of the lake monster draws hundreds.
"People are planning their vacations to come here for Champ Day. Just to be on the lake, be part of the celebration. Be part of the myth the legend the reality, depending on how you feel about it," said Tim Bryant, the
President of the Moriah Chamber of Commerce
There is even a $100 reward posted at the marina for proof that the lake monster exists.
Organizers said they hope this year's Champ Day will be bigger and better, especially since Champ Day was called off last summer.
"Losing the bridge for 2 years, the floods, the recession, just really took it's toll, and I would say the past two years we've really started to come out of this, and things are looking positive," said Bryant.
Saturday, the event hosts a 5K run, and cardboard boat race; a more active and kid friendly event.
Organizers hope this will fill the campgrounds, bring hundreds more, and maybe even the guest of honor.
"I hope I see actual Champ one day," said Ryan.
This event also brings in thousands of dollars to the local economy.