Laura Trott, Lizzie Armitstead and Marianne Vos will battle it out in the RideLondon Women's Grand Prix.
Olympic gold medallist Trott, silver medallist Armitstead and world road race champion Vos will join 80 riders in a 45-minute race around a 1.3-mile circuit that takes in St James's Park.
Trott will defend her title a week after competing in the Commonwealth Games in Glasgow.
Hannah Barnes, runner-up in 2013, also rides in the race on 9 August.
It will finish on The Mall, scene of a memorable battle between Dutch star Vos and UCI World Cup leader Armitstead at London 2012.
"It's always going to have special memories for me," said Armitstead, who took Olympic silver for Britain behind Vos. "The crowds in London are always special and I'm excited about it."
The race will be broadcast live on BBC Television.
Mark Cavendish had signed up to race in the men's event on Sunday, 10 August, but is almost certainly out after having surgery on the shoulder injury that forced him to retire from the Tour de France.