Post Commander Roy Giesen said the post will honor the occasion with a fish and Swiss steak dinner for members and their spouses at 4 p.m.
The celebration will also include musical entertainment beginning at 2:30 p.m.
The Greencastle VFW Post, located at 819 S. Jackson St., was organized on Oct. 16, 1941, founded by local veterans who had served in World War I and other foreign battles.
The local post was named in honor of Gen. Jesse Matlock Lee, who had fought in the Civil War and the Indiana Treaties. Buried in Arlington National Cemetery in Washington, D.C., Lee was married in Greencastle in 1868.
The original Jesse M. Lee Post 1550 was at the corner of Indiana and Poplar streets, where the Greencastle Fire Station is now located. The post moved to its present location on July 14, 1969.
Headquartered in Kansas City, Mo., VFW is the largest American organization of combat veterans.
Founded in 1899, the organization currently has 1.5 million members in 7,644 VFW posts across the United States.