Ryan Durkin, who played for Brinsworth Whitehill, will be remembered at the day of fundraising at the Phoenix Sport and Social Club, Pavilion Lane on Saturday from 2pm.
Ryan, aged 15, was struck by a stolen silver BMW on Brinsworth Lane, Brinsworth, at around 11pm on Friday, April 19.
A black Seat Ibiza also travelling along the lane then collided with Ryan as he lay in the road.
The driver of the BMW failed to stop at the scene.
On Saturday, some of his team mates will take part in a ‘young ones versus old ones’ football match after releasing dozens of balloons in his memory.
A GoFundMe page set up to help support his family has already raised almost £6,000 since it was set up and a sea of floral tributes have been left at the scene.
Kerry Ward, whose daughter Jordon Purser was with Ryan on the night, said: “We put some flowers there on Monday and went back today and the number of them must have trebled.
“The response has been amazing. I think it’s touched everyone’s hearts, it’s just horrendous. It’s literally brought a cloud over the area – everyone is saddened by it.”
Sheffield United fan Ryan was taken to Sheffield Children’s Hospital with life threatening injuries following the incident but he died one week later on Saturday, April 27.
A sea of floral tributes, balloons and Blades merchandise adorn railings on Brinsworth near to where he was killed.
Kerry added: “My daughter was there on the night and it could have been her, it could have been any of them.”
Kerry said she initiallyset the page up to support Ryan’s family while he was in hospital and said all of the money raised will go directly to them.
She added she hoped to raise around £3,000 on Saturday.
Andy Richie, chief executive officer of the LEAP Multi Academy Trust, which runs Brinsworth Academy, which Ryan attended, said: “We are all deeply shocked and saddened by the tragic death of Ryan.
“News of this tragedy has been felt across the academy and the whole Brinsworth community. The loss will be felt for a considerable time. Ryan was a quiet, popular student with a fun sense of humour.
“He had great potential and a bright future ahead of him, particularly in sport, where he was a crucial member of the school football team.He will be remembered by staff as a polite, well-mannered student with a wonderful smile.”
Mitchell Hughes, 24, of no fixed address, has appeared at court charged in connection with the fatal collision.