The opening was delayed after Storm Lillian hit the city centre with gusts much stronger than predicted.
Gazebos, tents and other event infrastructure were damaged or moved, creating a significant risk to public safety.
Despite the setback, market vendors, festival staff and the local community came together to clean up the debris and prepare the site for the next day.
Thanks to the hard work of all participants, Saturday, Sunday and Monday of the August bank holiday will go according to schedule.
Visitors can expect live music, free cooking classes, paid events, celebrity appearances, free family fun and more.
Bolton Council leader, Councillor Nick Peel, said:
“Everyone worked tirelessly to clear the debris from Storm Lillian and ensure the facility could reopen safely on Saturday.
“As disappointed as we are that the festival has been cancelled, the storm has shown Bolton's resilience at its best.
“The market stall owners were brilliant, they kept a positive attitude throughout the day and are looking forward to the next three days of trading.
“The whole community has really come together and the best way to help right now is to come out in support of our local producers, artists and performers.”