The heritage railway, which runs between Kidderminster and Bridgnorth, made the move as it backed the Ukrainian Crisis Appeal being run by the Red Cross.
And it will also run a collection this weekend to aid the charity, which is offering care, food and shelter to those in need.
Michael Dunn, head of visitor experience at SVR, said: "When we cancelled our Step Back to the 1940s weekends as a mark of respect to people suffering in Ukraine, we also pledged to give direct support in the form of a charitable donation.
"This weekend would have seen one of our 1940s events, so we thought it fitting to make this the focus of our efforts. As well as donating from the SVR’s operating profits, our volunteers will be taking bucket collections from passengers who want to add their own donations. We’re also working closely with local organisations to host visits by refugee families, both from Ukraine and other countries affected by war."
And visitors to the railway over the weekend will have the opportunity to enjoy a flypast by the Battle of Britain Memorial Flight's Lancaster aircraft. It will arrive at around 3.05pm on Saturday, flying from Bridgnorth to Bewdley via Highley, then on Sunday it will arrive at Bewdley around 2.30pm, flying along the line, via Highley, up to Bridgnorth.
Pre-book tickets at svr.co.uk.