James Dasaolu says he is ready for the "big test" of facing Usain Bolt at the Anniversary Games.
Dasaolu, 25, became the second-fastest Briton in history when he ran 9.91 seconds at the British Championships.
"It's the Olympic Stadium in my home town and I just can't wait," the Briton told BBC Sport ahead of Friday's 100m.
"It's going to be a big test for me," continued Dasaolu, who is already looking ahead to next month's World Championships in Russia.
"It's a world-class field, two weeks before Moscow. It's a chance for me and everyone else to see where everyone is. I know the crowd will be amazing and it will be a good experience for everyone in the race."
Bolt's fastest time this year is 9.94 seconds, but the Jamaican, winner of the 100m and 200m at the last two Olympics and world record-holder at both distances, has no concerns about facing Dasaolu in a race that will also feature Briton Dwain Chambers.
Bolt told BBC Radio 5 live: "Over the years, I've really set the standard high. Over the years, a few have really stepped up.
"This is just another athlete stepping up, showing his class and showing that he is up to the challenge. I thrive on competition. I look forward to competing with him."
Ennis-Hill, 27, has been hampered by an Achilles problem in recent weeks, but is set to feature at the two-day meeting which is followed by the Paralympic Anniversary Games on Sunday.
She is scheduled to compete in the 100m hurdles and the long jump after throwing a personal best in the javelin and also taking part in the long jump at a meeting in Loughborough on Tuesday.
Ennis-Hill tweeted: "My Achilles has responded well these past couple of days so Olympic Stadium here I come.
"Not the best preparation but I will give it my best shot."
Farah, 30 will also run at the Olympic Stadium, a year on from from winning 5,000m and 10,000m gold medals in London - he takes part in Saturday's 3,000m.
He broke Steve Cram's 28-year 1500m British record at the Diamond League in Monaco on 19 July and believes he has made a significant improvement over the last 12 months.
"I'm stronger, more experienced," he said. "I'm definitely a better athlete than I was, but you have to go and do it when it matters."
Greg Rutherford, who won the Olympic long jump on the same day that Ennis and Farah won golds, is missing the event because of a hamstring injury.
World 400m hurdles champion Dai Greene has an inflamed Achilles tendon and is also absent.
Briton Perri Shakes-Drayton runs in the 400m hurdles on Friday, while Olympic 400m champion Kirani James is also in action.
France's Christophe Lemaitre and Wallace Spearmon of the US head the field for the men's 200m, which takes place an hour before the 100m.
Olympics champion Allyson Felix runs in the women's 200m on Saturday, while the 4x100m men's relay rounds off the meeting.