The floor general, who is averaging career highs in both points (19.8) and assists (7.5), will be making his first appearance at the annual midseason showcase.
Lowry has been a key piece to the Raptors turnaround which began following the trade of Rudy Gay early last season.
The Raptors are leading the Atlantic Division by nine games with a record of 27-15 and are currently seeded third in the Eastern Conference.
This is a significant moment for the 28-year-old, especially because his omission from the all-star roster in 2013-14 was regarded by many as a snub.
He finished second behind John Wall of the Washington Wizards in total votes for guards in the Eastern Conference.
Over his eight-plus seasons, the Philadelphia native is averaging 12.4 points and 5.6 points in 548 games and has shown improvement across the board each year.
Lowry will start along side Wall, LeBron James (Cavs), Carmelo Anthony (Knicks), and Pau Gasol of the Bulls, assuming that all remain healthy.
Pau's brother Marc Gasol (Grizzlies), Kobe Bryant (Lakers), Blake Griffin (Clippers), Anthony Davis (Hornets) and Stephen Curry of the Warriors were the top vote-getters for the Western Conference.