Osmond, 18, is originally from Marystown and has been living in Alberta for the past eight years.
She will compete in the women's short portion of the team skate event.
The team event begins at 11 a.m. NT, and Kaetlyn is scheduled to skate at 12:40 p.m. on CBC Television. Osmond will compete against nine other skaters.
Osmond will skate in Sunday in the last of the team events, which start at 11:30 NT.
Hometown support has been huge for Osmond, with people in Marystown preparing for her inaugural Olympic debut — including her older sister Natasha, who Kaetlyn calls her hero.
Osmond is the first Olympian to come out of Marystown, and people from all over the Burin Peninsula plan to come together to watch the events at St. Gabriel's Hall.
Giant screens have been set up so people can watch Osmond on the big screen during her big events.
Tim Horton's has introduce a Marystown-exclusive treat - the pink Kaetlyn Osmond donut - to show just how much support she has from her home community.
After this weekend, Osmond will skate again on Feb. 19 and 20 in the women's competition.
Osmond started skating at the age of two, and at 10, began her figure skating training in Edmonton.