As The Press previously reported, the market - formerly St Nicholas Fair - has brought more than 75 'alpine chalets' to Parliament Street and St Sampson's Square.
Starting at 10am today (November 14), the festivities will be ongoing until December 22.
Open from 10am to 7pm, seven days a week, the market will have a 'quieter time' between 10am and 12pm in a move that organiser Make it York says will improve accessibility.
Some of this year's traders include notable local businesses, such as Millers and a stall by Roots' head chef Tommy Banks.
Speaking ahead of the opening was experienced market trader Susan Calder, who owns the glass ornament company Artifactually.
She said: "It's fantastic, it's my favourite city, it has a lovely vibe to it and everyone's very enthusiastic.
"People travel into York from miles around so its not just locals, people come from Scotland and Lincolnshire and all sorts of regions so its brilliant."
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