The World’s Greatest Shave is set to celebrate its 20th anniversary. The event raises funds for the Leukaemia Foundation Australia, and the organisation has set a $16 million goal this year.

Leukemia Foundation Australia Brand and Marking General Manager Susie Howards said The World’s Greatest shave is a “pivotal event” for the organisation.

She said money raised will help by provide support to families affected by blood cancer and will be used to fund research and improve the treatment and diagnosis of the disease.

“It’s enabled us to make an enormous impact on people living with the disease, and ensure that we are absolutely delivering first-class services to them,” Ms Howards said.

University of Wollongong student and singer Mikayla Dennelly will be take part in the event as a tribute to the friends and family members she has lost to cancer.

She has raised raised $1,500 towards her $2000 goal, and will perform before she faces the razor at the Bulli Foragers Market on Sunday.

Ms Dennelly said she is nervous and excited to contribute to the cause.