Six of the eight deceased heads of state are buried in Helsinki's Hietaniemi Cemetery. Two others are laid to rest elsewhere, PE Svinhufvud (1861-1944) in the south-eastern town of Luumäki and Kyösti Kallio (1873-1940) in Nivala, south of Oulu.
The candles are lit by student groups beginning at 5pm.
In Helsinki, there will be a speaker from the Allianssi youth organisation and songs by the Helsinki School of Economics choir.
The annual ritual is intended to draw attention to the sacrifices made by past generations and the responsibility of today’s younger generations.
Nearly all stores and services are closed on Thursday. With schools in some areas closed on Friday as well, many people are taking off for a long four-day weekend.