Bobridge, 25, will attempt to break the record, currently held by Austrian Matthias Brandle, at the Australian Track National Championships to be held at the Darebin International Sports Centre.
The current record mark of 51.852 kilometres was set by Brandle in October last year and had previously been held by German star Jens Voigt.
Bobridge is confident his preparation, which included a stage win and King of the Mountain honours at the recent Tour Down Under in Adelaide, has him primed for a successful tilt.
"The hour record is one of the most famous in cycling history, some great riders have broken it, so it's a big goal of mine," Bobridge said.
"My body's responding really well after the Tour Down Under, which is a great sign for me leading into Saturday.
"I think I'm right to go."
Despite the attempt being made at an indoor velodrome, Melbourne's notoriously changeable weather conditions will be a major factor in the physically and mentally demanding record attempt.
"Ideal conditions will be anything from 25 to 30 degrees inside the velodrome, but the air pressure will be the main thing," Bobridge said.
"Anything under 1000 (hectopascals) is great, but the higher you get above that mark the heavier the atmosphere gets and the slower the track is.
"The long-range forecast looks pretty good, but we'll just have to wait and see."
If the three-time world champion and dual Commonwealth Games gold medallist is successful he may not hold the record for very long with Tour Down Under winner Rohan Dennis scheduled to make an attempt in Switzerland eight days later and Tour de France winner Sir Bradley Wiggins to make his own attempt in June.