It is due to open to the public on Tuesday July 30.
Observation Wheel UK Ltd, of Southport, will bring the structure on four articulated vehicles with seven technical engineers working on the project.
It is expected that it will take five days to assemble the wheel, which is a temporary attraction on the site.
Day one is spent leveling and putting up the main towers with day two involving putting all the support arms in place.
Days three and four will see the gondolas attached to the wheel and· all the associated steps, fences and walkways installed.
The final day is reserved for washing, cleaning and polishing.
Three of the trailers will be removed from the site with one staying in place as the main support for the wheel.
Once erected, three gondolas can be loaded at a time with passengers.
The observation wheel will carry a maximum of 144 passengers with six people seated in each of its 24 enclosed gondolas.
The wheel will operate until Monday August 26. If successful, however, and Scarborough Council is happy with all aspects of the operation, it has an option to extend the lease until November 10, subject to planning permission.