Daley Mathison, 27, who lived in Scarborough as a child, died in a high speed crash during the opening race of the competition.
His sister, Renae Jackson, 33, described him as “a different grade of person.”
She added: “Everyone described him as a cheeky chappy, he was well-loved in racing.”
Mr Mathison was born in Doncaster in 1991 and lived in Barrowcliff until the age of three when he moved to Durham.
Miss Jackson, 33, said: “He’d always been interested in biking and started racing at 12.
“His dad encouraged him and allowed him to get into it.”
She added: “He loved the thrill and the speed of racing.
“He got a buzz out of life even though behind the scenes it was hard work.
“He put blood, sweat and tears into his career and unfortunately wasn’t able to finish the way he wanted.”
A seasoned regular at Scarborough's Oliver's Mount track, Mr Mathison held the second fastest lap on the course, breaking Guy Martin’s long standing record four times in one race during the Cock O’The North 2017 which saw him miss out on first place to Dean Harrison by less than a bike’s length.
Oliver's Mount and fellow racers have paid tribute to Daley - read more here
He leaves behind his wife Natalie and four-year-old daughter who was named Daisy after her father’s nickname.
“It was a standing joke in their house that Daley would always fall asleep,” said Miss Jackson. “Daisy is saying that her daddy is now sleeping with the fairies.
“The love he had for his wife and daughter – they were his world. They followed him everywhere, they were always there and they spent their life savings doing it.”
As a semi-professional racer, Mr Mathison worked as a labourer to fund his dream of being a champion and spent everything on the sport.
Miss Jackson said that so far this year, his racing had cost £30,000.
A Go Fund Me page was created by Simon Bird, a fan of the sport, in the hope of raising money to help support his wife and daughter.
His sister added: “We’d just like to help Daley fulfil one last achievement and give his family some financial relief whilst they’re grieving.”
Within one day, the total raised was over £13,000 and has now reached almost £30,000, a testament to how well liked he was within the motorcycle community.
Anyone who would like to donate to the memorial collection for Mr Mathison’s family can do so via this Go Fund Me page.