Bachchan, 71, and 46-year-old Akshay will be joined by many other Bollywood stars for the event, which is slated to take place on April 1 in Mumbai.
The fashion shows are held on behalf of Mijwan Welfare Society (MWS), an NGO founded by Shabana's late father Kaifi Azmi in 1993.
The veteran actress said that the event this year would be held on the theme of 'Men for Mizwan'.