The Regatta Committee are hoping Boris Johnson will confirm the easing of social distancing restrictions when he speaks later today.
The Prime Minister will announce details later of what the final step out of England's coronavirus lockdown will look like.
All restrictions are due to be eased in a fortnight.
Face coverings are expected to be made optional from then, with a potential end to checking into pubs and restaurants with the NHS app.
Organisers of the Whitby Regatta are hoping that the announcement will include confirmation of the end of social distancing.
Chairman of the organising committee, Ivor Greer, said:
"The Whitby Regatta committee, its volunteers, rowing clubs and Whitby Yacht Club are working very hard in conjunction with Scarborough Borough Council and other partners in perpetuating our historic event that is important to Whitby and our community.
This is the Whitby Regatta's 181st year - the event has only been postponed twice, once for a World War when there were no people to take part and last year due to this current pandemic.
We are in contact and asking for guidance from Public Health England. The planned event is also dependent on the Government dropping its social distancing rules due at its next road map announcement on 19 July.
We are working very hard to overcome all hurdles from current legislation that is in place now and in the future to ensure we can celebrate 181 years."
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