Mayor Roger Wilson will unveil a plaque on Tuesday at the Carillon war memorial in Queens Park to mark the 90th anniversary of the raids.
The bombs were dropped by a German airship at around 2000 GMT on 31st January, 1916, killing 10, including the mayors wife, and damaging property.
The ceremony is being held to honour those who died.
Until recently the only memorials to the raid were a series of small crosses sunk into the roads where the bombs fell.
Organiser Alex Gasson from the Museums service in Charnwood, said: "People don't realise that this sort of raid happened here.
"Everyone has heard a lot about the bombing in World War Two but it is important for people to know what happened here."
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