The event was organised by Isle of Man ambassador Lisa Brain, who said it had started as a far smaller idea.
Originally planning a lap of the course with local women riders, Brain approached organisers before being offered the chance for women to lead the Legacy Lap for the first time.
She said she felt “exceptionally privileged” to help bring together riders from around the world and create what she hoped would become part of TT history.
Brain said the event had also highlighted a stronger community of women riders on the island than many people realised existed, adding that increasing visibility could encourage others to get involved.
Those taking part in the event must assemble in the pit lane at the TT grandstand, on Glencrutchery Road in Douglas, at 08:30 BST.
The convoy is to set off at 09:30.
Racing on day two of race week will resume after the lap, with the RST Superbike TT race to start at 13:30.
