The event is run by the Canal & River Trust, the charity that cares for the Grand Union Canal, which runs through the town.
The festival has been made possible this year through the financial support of Colt Data Centre Services and ISG Ltd.
There will be activities for people of all ages, including boat trips, canoeing, paddle boarding, food and stalls.
The festival aims to raise awareness of the canal and encourage more people to use and enjoy it in a variety of different ways.
That includes running, walking, cycling, boating, fishing, watching wildlife or simply escaping the hustle and bustle of life.
Ros Daniels, Canal & River Trust director for London & South East, said: “In a challenging period for all charities, and with Canal & River Trust’s government grant frozen while costs are rocketing, I’m delighted that Colt Data Centre Services and ISG have stepped forward to help secure the future of this brilliant event.
“Research shows just how much people and communities thrive when they spend time near their local waterways.
“Every year at Hayes Canal Festival it’s a delight to see people who haven’t previously used the canal on their doorstep enjoy activities on and beside the water.
“[Our] volunteers bring 2,000 miles of waterways to life and Hayes Canal Festival is no exception.
“We will also be looking to recruit event volunteers for Hayes – a one-off opportunity which is particularly suited to people who can’t normally commit time to a regular volunteering role.”