The organisation, which helps support members of the travel industry, will host the event on Tuesday (12 October) between 1pm and 5pm and will serve food to participants in the centre of the track at 6pm.
For a £100 donation, attendees will be provided with a bike, a helmet, gloves and cleats.
They will also have access to coaches who will give them tips on how to improve their technique ahead of a sprint race at the end of the day followed by an award ceremony.
Changing facilities will also be available and refreshments will be provided throughout the day.
Abta LifeLine director, Trudie Clements, said the end of the furlough scheme has "affected many" members of the industry and has caused people to reach out to the charity on a weekly basis.
"Ride for your LifeLine is an event for everyone – so why not make this a special personal challenge, a team building exercise, a networking opportunity or a chance to bring family and friends along to help travel colleagues in need," she added.
"This is a chance to support our peers at a time when they need it the most."
All of the money raised will go directly to LifeLine to help the industry members the organisation supports.
Spectators are asked to donate £45 to the charity to watch the race and join the athletes for dinner. There are 32 cycling spots available.