More than 120 locals flaunted their best Great Gatsby-inspired costumes on Saturday night in the name of charity.

More than $10,000 was raised at the annual fundraising ball which was this year held at Ballarat District Trotting Club.

On Track foundation board member and fundraising committee member Margy Allen said it was great to see such huge support for the event which aims to foster support and raise awareness of Ballarat's homeless people in need.

"It was a great success," she said.

"It's critical to support programs like this in our community and help address issues of homelessness.

"We're grateful to have the support behind the Soup Bus."

An auction was held on the night with profits set to fund both the Soup Bus and several other support projects.

"There was some excellent bidding going on with some items exceeding the asking price," Ms Allen said.

"People were very generous."

The 1920s-inspired costumes became a talking point of the night with band The Black Cat entertaining audiences over a two-coarse meal.

Following the success of this year's ball, Ms Allen said it would be hard to top it in 2015.

"It's going to be a challenge to improve on an already great theme," she said.

"But we look forward to next year's ball, it's going to be even bigger."