Margaret River's place on the World Surf League's Championship Tour may be in doubt as officials deliberate over the future of the tournament at one of Western Australia's most iconic breaks.

Aussie six-time world champion Stephanie Gilmore and reigning men's world champ John John Florence have voiced their support for the event, which is scheduled to begin today in Margaret River in WA's south west.

World Surf League commissioner Kieren Perrow said discussions were underway with local government, communities and Surfing WA, but a schedule for the 2018 season is yet to be finalised.

The Margaret River Pro is one of the few events on the international tour to offer three breaks to cater for varying conditions, a factor Gilmore considers to weigh heavily in its favour.

"This is a dream destination for surfers who love adventure, and to me this area really represents authentic Australia," Gilmore said.

"To see the World Surf League and local government commit to making the event as mobile as it is, I think that that's a really big point for everyone to stop and think, 'OK, this event should stay'.

Florence, who won the event in 2015, said he was supportive of the tour returning in 2018.

"It's definitely one of the events with the most variety of waves that allows us to surf in all conditions," he said.

"It's one of my favourite places to come to on the whole tour."

The World Surf League says discussions are underway, but the 2018 season is yet to be finalised. (Photo WSL)

The Margaret River Pro is one of three event locations on the Australian leg of the tour, after Snapper Rocks in Queensland and Bells Beach in Victoria.

Locals say it provides a welcome boost to the local economy, which is largely seasonal and tourism-dependent, as well as the town's international profile.

Local business owner Helen Thompson said business owners in the town are worried about the uncertainty surrounding the event.

"Everybody's quite concerned that we'll lose it because although we've got a love-hate relationship with it, it does bring a lot of money to town and it's a really exciting event," Ms Thompson said.

"Not a lot goes on of this calibre in Margaret River, so I think it's a great thing to have. I'd be really disappointed if it didn't happen again."

Local surfboard shaper and repairer John Dutton said the annual event sees a sharp rise in business come into town, while also giving local surfers a chance to fraternise with the touring professionals.

"It's all systems go and you've got to be on hand 24 hours a day because you never know who will rock up wanting a board fixed for the next day," Mr Dutton said.

"One day it'll be Kelly Slater and the next it's John John Florence. It's good to see them because you see them on television and they seem like pretty nice guys and when they come in here you find out they actually are."

//ANTHONY PANCIA © Australian Broadcasting Corporation. All rights reserved.