Scarborough will host the Tour de Yorkshire for the fourth year running.
Borough councillors today backed the plan to bring the race back in 2018, using £150,000 from its car park revenue fund to pay for the event.
The route of the race will not be revealed until next year, and Filey residents will be hoping their town finally gets in on the action after missing on every occasion so far.
In a report, which went before councillors today, chief executive Jm Dillion stated: “Welcome to Yorkshire is proposing that the 2018 race will take place from 4 to 6 May.
“The route will be determined once Welcome to Yorkshire and ASO have looked at the potential host towns and routes. The 2017 Stage 1 route started in Bridlington and finished in Scarborough."
Scarborough is popular with race organisers due to the natural amphitheatre created by the finish on Royal Albert Drive.
Mr Dillon added: “The perception that there is always something happening in the borough is vital to ensuring that it remains the second most popular destination for UK overnight visitors.
“The council will be asking that the route includes as much of the borough, including the three main towns of Scarborough, Whitby and Filey, as possible.”
The vote to bring back the tour was not unanimous.
In response to Cllr Andrew Jenkinson (Con) calling the race "great for everybody" Cllr Tony Randerson (Lab) said residents in Eastfield "see no benefit".
He added: "At this time when our frontline services are being decimated I don't see how we can magic up £150,000 for a cycle race."