Organizers expect more than 400,000 people to attend the West Hollywood.
The parade kicks off at 11 a.m. at Santa Monica and Crescent Heights boulevards.
The three-day gay pride festival is already off and running, with events scheduled through the evening.
Figure skating star Johnny Weir will serve as grand marshal for the parade. Weir says he hopes to inspire gay people of all ages.
"I am proud, I'm so happy to be me and so happy for all the things that I'm born with and I need to show that to the world, I need to show them that it's ok to be different. It's cool. It makes you this amazing addition to society," he said.
People planning on attending should be aware that there will be a lot of street closures in the area.
From 5 a.m. to 5 p.m. Sunday, the festivities will prompt the closure of:
- Santa Monica Boulevard from Fairfax Avenue to Doheny Drive
- Crescent Heights Boulevard from Romaine Street to Fountain Avenue
- Norton Avenue from Laurel Avenue to Havenhurst Drive
- All other streets one block north and one block south of Santa Monica Boulevard from Fairfax Avenue to La Peer Drive
City News Service contributed to this report.