Hundreds of aspiring young Australian rules stars and fans of the game will converge on the Queen Elizabeth Oval on Friday for AFL Central Victoria's Footy Festival.

It's a chance for families to soak in the atmosphere of grand final week and Saturday's big clash between the Sydney Swans and Western Bulldogs.

The free festival will feature fun activities for the whole family, including a kid's playground, markets, live music and live-streaming of the traditional AFL grand final parade in Melbourne.

The highlight will undoubtedly be the appearance of Hawthorn champion Sam Mitchell and recently retired stars Drew Petrie (North Melbourne) and former Bendigo Pioneer Andrew Walker (Carlton).

The festival was officially launched on Tuesday morning by Member for Bendigo West Maree Edwards, AFL Central Victoria regional general manager Paul Hamilton and City of Greater Bendigo mayor Rod Fyffe.

It will coincide with the grand final eve public holiday.

"We want to make sure that lots and lots of people can get out and enjoy that day with their families and have a great time," Ms Edwards said.

"We know the public holiday brings lots of tourists to our region.

"But it's a really important day to spend some time with your family and have some great engagement with some famous footballers and terrific activities."

The festival, which will run from 11am-5pm, is one of two being staged across regional Victoria, with the other at Warrnambool.

It comes hot on the heels of a four straight weekends of grand finals across central Victoria in the Bendigo, North Central, Loddon Valley and Heathcote District leagues.

“It’s a wonderful week, AFL grand final week, and we’ve had a wonderful month with four grand finals in the central Victoria region,” Hamilton said.

“And now it’s all coming to a big finale with the big festival on Friday leading into the grand final.

“On Friday we will have plenty of entertainment for the parents and the kids as well. It’s a real family-friendly event and the state government has got right behind it.”

The festival will be a chance for central Victorian Blues fans to farewell Walker, who retired after 202 games with the club he was drafted to from the Pioneers with pick number two in the 2003 AFL draft.

His Echuca-based brother Benny Walker will provide musical entertainment.

A jam-packed schedule will include children’s entertainers Music Box and Learn with Vern’s circus and wellbeing program and a min-draft camp run by Fusion Therapy.