Here's everything you need to know about the flypast.
When is it taking place?
The flypast is on Wednesday May 16, 2018
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What is the reason for the flypast?
The flypast will mark the 100th anniversary of the Royal Air Force (RAF) and the 75th anniversary of the RAF raid on major German dams by 617 Squadron - later known as The Dambusters.
It has been organised by the Battle of Britain Memorial Flight.
What time is the flypast and and where can I see it?
The Lancaster will take off from RAF Scampton in Lincolnshire, flying over the Derwent Dam at around 12.05pm. It will then continue down the Derwent Valley and over Chatsworth, before heading to Rolls Royce in Derby and onwards to the Eyebrook Reservoir in Leicestershire.
Large crowds are expected
It is expected that people will turn out in force to see the flypast, with around 10,000 spectators in the Ladybower area for the last flypast in 2014.
Roads are expected to be very busy
With large crowds anticipated, Derbyshire County Council is putting a number of measures in place to help with traffic.
What roads will be closed?
There will be a full road closure on Derwent Lane, with three way temporary traffic signals in place at the junction with the A57 (manually controlled in peak times).
Traffic will not be allowed onto Derwent Lane, from the A57, between 12 noon and 3pm (at the earliest).
The aim is to allow traffic to leave Derwent Lane as fast as possible after the event, and the restriction will be lifted as soon as the area returns to normal.
Arrangements are being made to help with school transport, and families will be informed of these.
What parking and traffic restrictions will be in force?
* Permanent traffic signals at these two locations - junction A57/A6013 and junction Station Road,Bamford/Sickholme - will be manually controlled in peak times (particularly after the event).
* A mandatory temporary 20mph speed limit will be in place along the A57 (between Cutthroat Bridge westerly for 2.6 miles).
* Derwent Lane will have single file parking along the southbound carriageway only, when the car parks are full. There will be traffic operatives in place to direct traffic in four sections to control flow of traffic.
* There will be three no passing points in place for emergency vehicles on Derwent Lane.
New Road, Bamford will become one way (westbound only); this will be all day unless otherwise signed
Lydgate Lane, Carr Lane and Thornhill Lane will also become one way (west/southerly direction); this will be all day unless otherwise signed. This creates an anti-clockwise gyratory with the A6013 in the middle
* Hagg Barn car park will be signed for motorcycles only
* Fairholmes car parks will be reserved for disabled traffic
No parking areas (cones and signage at various points on the A57/A6013/Bamford village) will be identified and enforced by police and civil enforcement officers.
The emergency planning/event control will be located at Heatherdene car park.
Police will provide four motorcycle officers to patrol the A57 and A6013 and parking enforcement officers will be on the route at various points.
Highways England are also being asked to sign the event on the variable message signs on their roads, with the aim of getting passing traffic to take a different route.
It is hoped all traffic restrictions will be lifted by 4pm, but people are being asked to abide by the signs until they are removed.