This year, it's Sweden's turn to host the event, beginning tonight and finishing on Sunday, with athletes from the two nations descending on Stockholm Stadium to battle it out over all track and field disciplines.
First held in 1925, Finland took both the men's and women's titles a year ago, ending Sweden's five-year stronghold on the men's trophy, while winning the women's event for the first time since 2015.
In fact, it was the first time since 1998 in Helsinki that the Finns took a clean sweep, having last done so on Swedish soil 12 months earlier.
The task for Finland to defend their titles will be a great one though, with the majority of the sold-out crowd roaring on the home team in an athletics competition that holds a special place in the hearts of both nations.
Finland hold a 47-37 overall lead in the men's competition, but a 43-26 lead for Sweden women over their Finnish counterparts means Sweden the total score stands at Sweden 80-73 Finland.
As well as the fans, that love of the Finland-Sweden Athletics International extends to the athletes, too.
Despite the 2025 World Athletics Championships being a month away, both nations top stars will be taking part, with the event seen as an important step in their preparations for the worlds, rather than a hindrance.
Sweden's pole vault superstar Armand Duplantis will be participating in front of his home crowd as he looks to clear 6.30m for the first time in his incredible career.
"Most often you compete alone, even if you represent Sweden at a championship, but this is completely different. There is something magical about the whole Finnkampen. There is something cool, with the long history," the 25-year-old told World Athletics.
Another record "Mondo" holds is that of youngest male competitor in the history of the event, which he achieved in 2015, coming third in the pole vault with a clearance of 5.17m, aged 15 years 307 days.
A decade on and this year's event will be another special one for the Duplantis family, as Armand's younger sister, Johanna Duplantis, will compete for Sweden in the women's pole vault for the first time.
"It's truly a dream come true! I'm so excited to represent Sweden. The Finnkampen means a lot to me and especially now that I get to compete with my brother," Johanna told the finnkampen.se.
The men's pole vault will be one of the highlights of Saturday evening, while the women's vaulters take to the field on Sunday.
Seven points are on offer to the winner of each event, with Armand the shortest of short price favourites to take seven in his event, as he aims to avenge Finland men's tight 228–225 win in 2024. 229.5–224.5 to Finland was the women's final score 12 months ago.