After photo-finish analysis, it was revealed Drysdale had won by half a bow ball, with both men posting the identical time of 6m 41.34s in an Olympic record.
"Among other single scull rowers, [Drysdale] has put out the challenge to Damir Martin to come and fight back," said Wanganui Rowing Association spokeswoman Kate Austin.
"Competitors in the race will be racing Mahe over a 5km course on the Whanganui river.
"The race is open to all rowers who want to take on the famous pair in New Zealand's premier single scull race."
The challenge will be held on the Sunday after the Jury Cup regatta, which will also draw many rowers from around the country.
In addition, the corporate eight race will be held again before the main event
"Wanganui businesses are encouraged to get together a crew, find a coach and a boat to compete in the fun event.
"The event has been a success in previous years."
The challenge has been run since 2008, which marked the centennial of Billy Webb successfully defending the world single sculls title on the Whanganui against Australia's Richard Tresidder.