Fundraisers from Wednesbury Athletic FC and Team Margot will take part in the walk, which will take in the stadiums of Birmingham City, Aston Villa, West Brom, Walsall and Wolves.
The group – which includes former Wolves player Colin Taylor – is planning to complete the 20-mile trek this Saturday.
Gavin Ingles, 47, from Wednesbury, said the aim was to raise funds for the families of child cancer patients.
He said they also hoped to raise awareness of the need for stem cell donors to come forward, particularly those from BAME communities.
The Team Margot Foundation was launched by Yaser Martini and his wife Vicki to provide a range of support to families caring for child cancer patients, including grants of £1,000.
It is named in honour of their daughter Margot, who was just two years old when she lost her battle with a rare form of blood cancer in October 2014.
The charity said: “Please donate and support our fantastic team of walkers as they make their way around the stadiums.”
So far the charity has distributed more than 250 grants.
The group will be joined by a fan of each club on each leg of the walk.
Visit justgiving.com/campaign/funwalk to donate.