The Wickham horse fair will take place in The Square on Monday 20, May where horses are bought and sold.
The fair is traditionally run by members of the travelling community who come from across the the country to trade the animals and parade them.
Hampshire Police has warned of the possible traffic disruption that will see several roads in Wickham closed from 5am until 8pm due to crowds and horses.
Permits have been given to residents to allow them to get to their homes through the closures.
Chief Inspector Andy Houghton said: "This event is steeped in history for Wickham and we have been working closely with Hampshire County Council, Winchester City Council, Wickham Parish Council and other agencies to help maintain a safe environment for visitors and residents to enjoy the day."