The fire broke out during a match between Bradford and Lincoln at the Valley Parade stadium on 11 May 1985.
The fire is thought to have been started by a lit cigarette dropped under the all-wooden stand, igniting litter underneath the steps.
A 30-minute service will begin in the city's Centenary Square at 11:00 BST.
The service will be led by the chaplain to Bradford City, the Reverend Andy Grieff.
The day of the disaster started out as one of celebration as Bradford players paraded the old Division Three championship trophy around the ground before kick-off.
It marked Bradford City's return to the second tier of English football for the first time since before World War II.
But 54 Bradford City supporters and two Lincoln City fans lost their lives with many more injured.