V8 Supercars officials say the Gold Coast 600 has proven its worth and the Queensland Government must guarantee taxpayer funding.
V8 Supercars spokesman Col Hitchcock says the event attracted more than 180,000 people in recent days and had provided a valuable economic boost for the tourist strip.
"The proof is in the pudding," he said. "182,000 people on site over three days - the Gold Coast needs tourists."
The event is funded to the tune of AU$6 million ($7.6 million) a year, but so far there's no commitment beyond next year.
Earlier this year, the Queensland Government said major events such as the Gold Coast 600 would have to demonstrate they are providing value for money, or risk losing government funding.
Gold Coast Mayor Tom Tate says the event delivers national and international coverage for the area.
"We need this event. It's part of the Gold Coast. The Government needs to keep funding it, because it's important to a lot of people and not just the tourist operators."AAP