More than a dozen skippers have registered their vessels for the two night festival, which will see boats big and small covered from deck to mast with LED lights and shining sculptures.

The first parade begins on Friday, June 28 with a 5pm launch event at Marmong Point Marina.

From 6pm on Friday the flotilla will skirt the western edge of the lake, passing Toronto and Coal Point on their way to Wangi Wangi.

The best vantage spots for Friday's parade include Marmong Point, Toronto, Bolton Point Park, Coal Point, Rathmines and Wangi Wangi.

On the Toronto foreshore 5.30pm-8.30pm will be live music, food stalls and entertainment including performances from Circus Avalon.

On Saturday, June 23, the parade will set sail at 6pm from Marmong Point Marina, heading north towards Booragul before crossing the lake and skirting its eastern edge from Warners Bay to Belmont.

The best vantage points on Saturday will be Red Bluff walkway, Warners Bay and Belmont.

At Warners Bay from 10am there will be market stalls and entertainment.

From 5.30pm, head along to enjoy live music, LED hula-hoop, a fire show, food and speciality stalls.

Register for the Float Your Boat parade at lakemac.com.au.

Cash prizes are up for grabs for this year's best dressed boats including a $2000 People's Choice Award, a $1000 Mayor's Best Boat Award for vessels 10m and over, and a $1000 Mayor's Best Boat Award for vessels 5m and over.