Organisers of the event, Coleraine and District Motor Club believe will be a fitting tribute to Dunlop who died during a practice session on Thursday evening.
Before making the decision to run the event Clerk of Course Mervyn Whyte spoke to Robert's widow Louise and sponsors and they have given their full support to tomorrow's event.
Mr Whyte said "Robert was a wonderful ambassador for the North West 200 and for Northern Ireland and we believe he would have wished the event to go ahead.
"Robert will be remembered with great fondness by all who knew him. His presence, sense of humour, enthusiasm and love for life will be sorely missed.
"Our prayers and deepest sympathies are with Louise, Robert's sons Michael, William and Daniel and the wider family circle. Our thoughts are also with Darren Burns who was injured last night.
As a mark of respect to the Dunlop family and the motorcycling fraternity at large, all events in the paddock and hospitality area will be cancelled today.
Race Day will take place tomorrow as planned with roads closing at 10am. Prior to the first race a minute's silence will be held.