To mark the occasion we have dug out some pictures of celebrations from years gone by across the city.
Will you be watching the festivities again this year and who can you recognise in the photo gallery?
9. Baby smiles
Youngsters at the Sheffield and District Chinese Association and Sheffield and District Chinese School New Year celebrations in 2004 Photo: Barry Richardson
10. Meeting the mayor
Part of the 2004 Chinese New Year celebrations at the Rotherham College of Arts & Technology. Pictured are young dancers LtoR.Phoebe Lo, Amy Tu, Shirlie Leung, rica Tsang with the Mayor of Rotherham Clr Richard Russell Photo: Steve Ellis
11. City Hall celebrations
The Lord Mayor of Sheffield Clr Diane Leek is welcomed to the Sheffield Chinese Community's New Year celebrations outside the City Hall in 2004 Photo: Steve Ellis
12. Performing Arts
Young members of the Shenzhen Performing Arts group in 2004 Photo: Barry Richardson