Doncaster is bidding for city status as part of the Queen's Diamond Jubilee celebrations in 2012.
The bid is being backed by actor Brian Blessed, Labour leader and Doncaster North MP Ed Miliband and the Mayor of Doncaster, Peters Davies.
Doncaster will compete against other towns, including Middlesbrough, Blackpool and Croydon, for the city status next year.
"It will put Doncaster on the map", said the town's Chamber of Commerce.
Dan Fell, from Doncaster Chamber of Commerce, said: "We've had a couple of rough years in Doncaster. We've seen a bit of negativity around the town.
"This will give us six months of campaigning to create a buzz in the city, create some civic pride and put some confidence back in the town."
Doncaster had previously bid in 2001 to become a city in when Queen Elizabeth II celebrated her Golden Jubilee year. The town created the slogan 'Doncaster - A City in All But Name', however, Preston in Lancashire was awarded the status.
In the past 10 years, since its previous bid, Doncaster has seen many changes, including a new mayor, a refurbished race course and new sporting ground, the Keepmoat Stadium.
Mr Fell added: "The town has a real buzz about it. I think the confidence this time could tip us over the edge. If we don't win that's not the end of the world."
Peter Davies, Mayor of Doncaster, said: "We felt that this was an opportunity that we really couldn't miss.
"Doncaster is a fantastic place and it's time to shout it from the rooftops."
The mayor said there were 10 reasons why Doncaster should become a city, including its "rich and fascinating history", a "vibrant arts culture and leisure scene" and the people's civic pride.
Mayor Davies said that there would be no "unnecessary expense to the Doncaster tax payer" and would be using material from its previous bid in 2001.
Doncaster will submit its bid at the end of May and the announcement is due in early 2012.