Over the past few years, students had helped clear the trail and plant new native grasses, trees and shrubs along the route, Mr Shepherd said.
Organiser Erin Collins said she was eager to make the day a fun family outing.
"We originally thought about doing a half marathon but that's a big undertaking, so we thought we'd just do something fun."
There would be plenty of spot prizes provided by local businesses, and prizes for the best-dressed participants, Mrs Collins said.
Those taking part can choose from either a 5km or 10km cycle or run/walk.
The course starts at the corner of Cotter St and Governor's Green Dr and finishes at either Stouts Corner or Woodside Station, depending on the distance chosen.
The price of entry is $10 for individuals, $30 for teams of up to four riders or $20 for a family of two adults and two children.
Registration is online at http://www.bikenhikegreytown.com