Penthouse editor Suzan Ryan is bringing sexy back to Canberra.

The popular adult magazine, originally launched in Britain in 1965, will be returning to Canberra after a long hiatus with a party on Thursday night to showcase and celebrate the winner of the annual cover girl competition - the 2013 Pet of the Year.

"We've been doing this for 34 years and Canberra has been on the roster in years past but not in the six years I've been editor," Ryan said.

"We run parties up and down the east coast every year for our subscribers, models, agencies, photographers, contributors and general public to showcase our Pet of the Year, meet and greet our clients and see girls perform."

Some of the performances to be expected include stripping, dancing and burlesque.

The event, which will be held at The Capital Club, is also a way for the men's magazine to scout for modelling talent in Canberra.

Two Pets of the Year, Jewell Tyler and Melbourne stripper Nikita Sage, will be in attendance and will perform alongside a handful of other Pets of the Month.