Sports for Peace says the July 25 event will honour Ali's humanitarian work and status as a "role model on civil rights, humanity and in opposing war."
Angelina Jolie and Brad Pitt are expected to attend the A-list dinner at the Victoria & Albert Museum, which will raise money for the educational Muhammad Ali Center and for research into Parkinson's disease. Ali, 70, has battled the degenerative brain condition for almost 30 years.
Jolie is a patron of Sports for Peace, which urges athletes to promote fair play and understanding.
Ali won gold at the 1960 Rome Olympics when he was known as Cassius Clay.