The popular tournament was originally played at Inverell for eight years before it moved to Queensland's Fraser Coast in 2018.

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It is being played at Lismore for the first time with organisers hoping to give the town a boost after the devastating floods earlier this year.

The competition kicked off on Monday with 27 teams from across the country competing across five age categories over the week, culminating in the finals on Saturday.

The mini World Cup format sees each team allocated a country and they play in those colours for the duration of the tournament.

Keenly watching the games will be former Socceroos coach Rale Rasic and a team of selectors, who will pick players and coaches for a subsidised tour of Europe in 2023.

A total of $120,000 will be given away in subsidies, merchandise, and equipment.

Founder Heinrich Haussler told the players with ideals of becoming a successful soccer player that it "doesn't need to be a dream - it can come true. But you need to work very hard for it".

He told them to use the tournament to help them make the dream come true.

The tournament will stay in the town for at least the next three years.

Haussler said the impacts of flooding had reduced numbers this year, but were expecting to see a return of overseas teams to the event next year.

Haussler's son, Heinrich Haussler junior, is an elite cyclist and will be in Lismore tonight (Thursday) as a guest speaker at the Flood Appeal Fundraising Dinner.

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