Ricky is taking on the nerve-wracking challenge in memory of his grandfather, who fought a 10-year battle with Parkinson's Disease before he passed away in 2003.
As a result, the TOWIE star is hoping to raise vital funds for the Cure Parkinson's Trust, which hopes to find a way of beating the heartbreaking and debilitating illness.
Speaking about his skydive on his Just Giving fundraising page, Ricky has said he is feeling relaxed about it because he knows it is for a good cause.
"Whilst I am excited to be participating in the skydive it is slightly scary but, as it for an amazing cause, I will definitely be taking it all in my stride!" he says.
"Parkinson's is a truly devastating disease which affects thousands of people around the UK, including my Grandad, who was sadly diagnosed with Parkinson's in 1993 and passed away in 2003.
"I am looking forward to raising much needed funds with the Ricky Rayment Team to help find a cure and hope everyone gets behind me on this!"
Ricky and the Ricky Rayment Team, made up of 16 skydivers, are set to leap out of a plane on 17 August and together they have already raised more than £5,000; 20 per cent of their £25,000 target.
Among those who have already sponsored is Ricky's girlfriend and fellow TOWIE star Jessica Wright, who wrote "so proud of you x x" when making her donation.
To help Ricky and his Team reach their target, click here or text RRAY90 £1/£2/£3/£5 or £10 to 70070.