The iconic Wagga event, which sees hundreds stream down the Murrumbidgee River on makeshift rafts every year, was shelved on Wednesday night.

South Wagga Apex, which runs the world championship race and festival, announced on the Wagga Gumi Facebook page that there would be no water event come Saturday.

"It is with great sadness that South Wagga Apex has been forced, due to the extreme low levels of water in the river, to cancel (the race)," the announcement said.

"We, like so many Australians and communities, have been praying for water with no success.

Wagga Beach will still be filled with festivities, however, with the club declaring it will take more than a low river to kill off this year's event completely.

Food vendors, bars, rides and entertainment will pop up at Wagga Beach from noon on Saturday.

"Although the race is cancelled, we are a resilient club and we have a brilliant community who still deserve a great time,"

"With some of Wagga’s best entertainment, food vendors, the support of Borambola Wines, kids entertainment and movies by moonlight the show will still go on.

"We will not be beaten. So we ask that the community come and support this great event. Come down to the beach and enjoy the festivities."

The Wagga Aquathon, hosted by Wagga Leagues Swimming Club and originally scheduled for Saturday morning, also won't go ahead.

The sweet sounds of popular acoustic duo Harry and Tom will fill the air until 3pm, when Dane Kennedy takes over until early evening.

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