Hailed as Australia's first official air race, the event saw four airmen who had flown in the skies above Europe during World War I take to the air over Serpentine to promote the Second Peace Loan for returned servicemen.

To mark 100 years of the event, a spectacular airshow featuring vintage aircraft and the RAAF Roulettes will perform heart-stopping aerobatics to entertain the crowd.

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Organisers are hoping to attract 5000 spectators to the Serpentine airfield, located six kilometres south of the township.

An airfield has been sown on private property under irrigation to cater for aircraft flying in and out for the event.

As well as vintage aircraft, early 20th century motor cars will be on show to recreate the 1920 era of the original race.

Hosted by the East Loddon Historical Society under the banner 'Wings of Peace', the event follows on from a 75th anniversary celebration of the 1920 race held in 1995.

For everyone on the Serpentine Air Race Committee, the fact the 100-year anniversary event can take place is a big sense of relief after the initial event in 2020 was cancelled at the outbreak of the COVID-19 pandemic

"We were devastated," committee secretary Elizabeth McGauchie said of the 2020 cancellation.

She said two weeks out from the airshow, a publicity event was held featuring some of the vintage planes which would have been performing on the day.

"It was fabulous and everything was looking great and the next thing we hear there's a blanket ban on everything," Mrs McGauchie said.

She said local sponsors from the 2020 event have stayed onboard to allow the committee to get the event up and running again.

This year's re-organised event will see the RAAF Roulettes fly as low as 80m above the ground at speeds of up to 685km/h.

Hitting forces of up to 6G and flying as close as three metres to each other, the Roulettes put on a spectacular show.

Paul Bennet Airshows will be co-ordinating the eight vintage aircraft to recreate the 1920 air race.

Committee president Robert Hooke said he was hopeful the 2022 event could go ahead without disruption this time.

"We've been planning this for four years but we're not there yet," Mr Hooke said.

"It's a worry with border restrictions because Paul Bennet is based in Newcastle and some of the pilots are registered in South Australia.

"But we're bowling ahead as if it is going to happen. You've just got to."

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There is a possibility of Mustangs and Spitfires also taking part if there are enough spectators.

"That's why we want as many people to book online as possible to get a big enough crowd," Mr Hooke said.

"Money raised will go towards supporting families of veterans which is what the original air race was held for in 1920."

The centenary celebration of the Serpentine Air Race will be held on Sunday, March 20 from 9am.

Tickets are $35 for adults, $15 for children and $80 for a family.

To book online, go to serpentineairrace.com.au

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