Birmingham's latest answer to the London Eye opens on Thursday.
The wheel's gondolas are air-conditioned
The wheel, which is 60m high and has taken more than two weeks to put up, will remain in Centenary Square until February at least.
The £3.5m structure replaces last year's wheel, which was brought in from Paris and is now in Manchester.
About 120,000 people rode on that wheel in Birmingham before it was taken down, and the firm behind the project hopes to beat that record.
The new wheel has larger gondolas which are air-conditioned and can accommodate eight people.
The gondolas have also been made with more glass and provide a clearer view of the city than was available last year.
World Tourist Attractions director Jonathan Shipley said: "Thursday evening's launch party is the culmination of a lot of hard work by a lot of people to make it happen.
"The wheel is going through its final safety checks here and it looks fantastic against the Birmingham skyline, both during the day and after dark."
Ticket prices are the same as last year, with adults paying £5, senior citizens £4 and children £3.