Kidical Mass, external is a worldwide movement aiming to make cities more cycle-friendly for children and young people.
Councillor Qaiser Azeem, the council’s cabinet member for transport, said it was a “wonderful opportunity” to practice safe cycling on public routes.
Those taking part are asked to bring their own bikes and helmets, with younger children to be accompanied by an adult.
Porter, who went on to become the BBC’s voice of cycling for many years, said: “As a former world champion and cycling ambassador for the city it is music to my ears to see people riding bikes.
“I wish the Kidical Mass family bike ride every success on the day, and I hope it attracts lots of youngsters to pedal around the route.”