People all over the UK will be cooking up some crepes to tuck into for pancake day today.
But for some kids, it's not just a chance to tuck into a tasty treat. Ricky's been finding out more...
"For more than 500 years the people of Olney, a town near Milton Keynes, have done something very unusual to celebrate Pancake Day.
Instead of just cooking a tasty pancake, the residents of Olney race down a street with them in a frying pan.
It's part of a long tradition that dates back to 1445, and today I got to take part in the race.
Loads of kids from nearby schools lined the streets equipped with their frying pans ready to race. Meanwhile, loads of stalls and tents were busy churning out fresh pancakes.
I met up with Joe and his Gran, Viv. This was Joe's sixth pancake race and his grandmother has taken part in the festivities since she was younger.
Then the attention turned to me. It was my turn to get ready on the starting line and run for my life with my frying pan and pancake!
Unsurprisingly I didn't win, all of Joe's Year 6 school mates beat me to the finishing line.
Doesn't matter though, I think I'll spend Shrove Tuesday next year eating the pancakes and nothing else!"