The 29-year-old has every chance of standing on the top step of the podium, with only team-mate Nico Rosberg capable of beating him on pace. The two are set for yet another head-to-head battle for the win.
And if Hamilton emerges on top he'll become the sixth British driver to secure multiple victories at their home grand prix. We've taken a look back at the other five men to achieve that feat.
JIM CLARK (1962, '63, '64, '65 and '67)
The most successful British driver on home soil, Scottish racing legend Jim Clark took five victories at three different circuits between 1962 and '67. The Lotus ace took a hat-trick of wins at Silverstone (1963, 1965, 1967) and also triumphed when the race was held at Aintree (1962) and Brands Hatch (1964).
And in 1962 and '64 Clark put in a 'perfect' performance by starting from pole, recording the fastest lap and taking the win. The Fife-born racer was unquestionably one of F1's greatest talents.
NIGEL MANSELL (1986, '87, '91 and '92)
Second only to Clark, Nigel Mansell was a four-time winner at his home event. He got his first at Brands Hatch in 1986, leading an emotional Williams one-two in team boss Frank Williams' first race back since his fateful car accident. Mansell repeated his win the following season, this time at Silverstone, passing team-mate (and sworn enemy) Nelson Piquet just two laps from the chequered flag. It was one of Mansell's sweetest F1 victories.
He was always mighty on home turf and with a little luck could have won even more. In 1988 he was second to Ayrton Senna and was runner-up to Alain Prost in '89, now driving for Ferrari. The following year he started from pole and looked set for another win, only for his gearbox to let him down.
In 1991 he was back at Williams and the fantastic FW14 carried him to home win number three. The following year he made it four in the all-conquering FW14B, eventually capturing the world championship. But for British fans, Mansell is perhaps best known for his heroics on home soil.
JACKIE STEWART (1969 and '71)
Jackie Stewart won twice on home turf, both on his way to world title glory. The first came at Silverstone in 1969 and was a display of pure dominance which saw Stewart lap the entire field. In 1971 he took the top step at home again, not enjoying quite such a winning margin but nevertheless producing a standout drive.
1973 was the only one of Stewart's three world title years that didn't include a home race win. He was certainly in the mix, but when he attempted to take the lead from Ronnie Peterson the Swede defended robustly. Stewart spun off and could only recover to 10th, though Jackie would still secure the championship at the season's end.
DAVID COULTHARD (1999 and 2000)
Hill, Button and Hamilton may be Britain's three most recent world champions, but David Coulthard has them all beat for British Grand Prix wins. Every cloud, right David?
His victory in 2000 came after a memorable pass on the Ferrari of Rubens Barrichello. With the race at half-distance Coulthard had eroded Barrichello's early lead and was shadowing the Ferrari at every turn. Then Barrichello was slow out of Chapel, putting Coulthard alongside him on Hangar Straight. With Rubens covering the inside, DC jinxed left and dived around the outside of the Brazilian to grab the lead.
STIRLING MOSS (1955, and '57 shared)
Just like Coulthard, Moss never took a world title but won twice on home turf. Both of his triumphs came at the Aintree circuit. In 1955 he led a Mercedes sweep of the top four places, beating team-mate Juan-Manuel Fangio for what was the Brit's first F1 win. Moss also bagged pole and the fastest lap to complete a perfect weekend.
Two years later Moss would win again to make Vanwall the first British constructor to take grand prix victory. He needed a little help, however.
Starting from pole, he led early on with team-mate Tony Brooks third. Moss built an early lead but pulled into the pits when his engine began to sound suspect. Jean Behra took over top spot in his Maserati, while Brooks was called into the pits to give his car to Moss. Moss was quickly back up the order, catching the third Vanwall of Stuart Lewis-Evans.
Then on lap 69 Behra's clutch failed and the pursuing Mike Hawthorn suffered a puncture on the resulting debris. Moss quickly passed Lewis-Evans for the lead and went on to take a famous win - which was shared with Brooks, of course.