The annual One Night Stand competition, organised and promoted by national radio station Triple J, is hosted in a remote town or city in Australia.

Glenlyon is among thousands of towns across Australia vying for the opportunity to stage the concert.

Local supporters of the event believe it will give the town a massive tourism boost.

Glenlyon General Store co-owners Sahm Keily and Andrew Masterson said the concert could attract about 10,000 people.

Mr Masterson said the concert, which will be broadcast live to the nation and re-used over and over, was "a gift that keeps on giving".

Ms Keily encouraged the community to get behind Glenlyon's bid to host the event.

Hepburn Shire Council has supported competition entry and the proposed venue of the Glenlyon Recreation Reserve.

Ms Keily said the location was good, businesses would benefit from the event and a battle of the bands competition would highlight local musical talent.

To enter, the community must submit a petition and show a picture of Triple J personality Myf touring around the area and produce a photo album for competition judges.

Judges will be looking for the most complete and well thought out entry.

Ms Keily encouraged people to sign the petition, especially if they wanted to see Silverchair perform in the town.

"We have got our fingers crossed," she said.

She said petitions were available at the Glenlyon General Store, Wombat Hill Nursery and Family Video Land in Howe St.

The One Night Stand is a drug and alcohol free event.

Glenlyon must have their entry in by March 9. The winner will be announced during the Triple J breakfast show on Friday, March 16.