Fit Food Fast in Commercial Road is focusing on how to cook balanced family meals on a budget.
It will also showcase the host of free projects on offer as part of Portsmouth's £6m Healthy Towns scheme to help people eat well and move more to live
longer.
Advice on everything from cooking to cycling and growing your own fruit and vegetables will be on offer.
And chefs from the Royal Navy and Highbury College are demonstrating how to cook healthy, low-cost meals in an open kitchen.
Anne Hutchins, healthy towns project manager, said: 'Come down to Fit Food Fast and meet the Healthy Towns team to find out about getting around the city by bike, growing your own fruit and veg and achieving a healthy weight by eating well.
Paul Edmondson-Jones, director of public health and wellbeing for Portsmouth, said: 'Fit Food Fast promises to give local people practical tips for preparing food at home on a limited budget, so that healthy, tasty meals can be enjoyed every day.'
In December Portsmouth won £3.1m of funding after being selected by the government as one of only nine 'healthy towns' in the country.
The cash has been match-funded by local groups including Portsmouth City Teaching Primary Care Trust and the city council to fund projects from a round-the-island cycle route to fruit and veg growing projects.
The festival will run today and tomorrow, and on July 11 and 12 from 10am to 4pm.