The ceremony will take place at Runnymede in Surrey, close to the River Thames, where King John of England sealed the original document in 1215.
The charter first protected the rights and freedoms of society as well as establishing that the King was subject to the law rather than being above it reports BBC.
A major new art installation will also be unveiled in the Runnymede meadows.
The Queen will be joined by the Duke of Edinburgh, the Duke of Cambridge, Princess Anne and her husband Vice Admiral Sir Tim Laurence as well as Prime Minister David Cameron and other dignitaries from around the world.
The formal ceremony will take place from 09:15 BST with entertainment starting from 07:00 including musical and spoken word performances.
There will also be a rededication of the American Bar Association’s Magna Carta Memorial and a new art installation commissioned for the anniversary will be unveiled in the meadows.