Sixteen shows will play at seven venues, running from Thursday, October 20, to Sunday, October 30, with comedy heavyweights Sarah Millican and Ed Byrne among those heading to town.
Mr Riley, festival director, said: "Sadly this year's festival lost its funding but everyone has pulled together to get it going again.
"I have been overwhelmed with the support I have received and can't wait until the festival gets underway."
He said: "We decided to re-brand the event as Southport Comedy Festival and we've gone with a traditional seaside theme, but it's also a bit tongue-in-cheek.
"One major aim is to keep the ticket price down. Entry to shows start as low as £3. We want to make comedy accessible to everyone."