NSW Roads and Martime Services ticked off a mandatory certificate of survey to operate the Cumberoona on Monday ahead of its much-anticipated launch on Lake Mulwala this weekend.

Owners Robbie and Fraser Knowles have permission to carry 100 passengers on the Cumberoona as part of the certificate conditions of operation.

"It is something we needed to get," Robbie Knowles said.

"Since we've taken it over it is something we've been working towards.

"We've been ticking all the boxes and got the last one through."

The Yarrawonga-based brothers bought the paddlesteamer from Albury last November for $30,000.

Its return to Lake Mulwala will be the first time it has sailed since 2007 when based at Noreuil Park.

The Cumberoona will be located on the Yarrawonga foreshore after a mooring spot was approved near Hunt Street.

The paddlesteamer has been undergoing repairs at the nearby yacht club.

A cruise for invited guests from the business community, tourism industry and council representatives will be held on Friday evening from 5pm.

The public will have its first chance to ride on the Cumberoona on Saturday and Sunday.

Former Cumberooa captain Vin D'Alessandro will make the trip to Yarrawonga for the launch.

He operated the paddlesteamer in the early 2000s.

Mr Knowles said the excitement was building ahead of the Cumberoona's return to the water.

"We've had a lot of local support," he said.

"We are also getting support of Albury which has been great.

"Everyone is keen to see it get back on the water."

The Cumberoona made a highly publicised three-day trip from Albury to Yarrawonga via Howlong in March with the crew to also be reunited this weekend.

It has subsequently undergone major repairs ahead of a return to the water.

The Knowles brothers plan to bring the Cumberoona back to Albury when river levels permit.