The production, based on the Nickelodeon television show, will run as a limited engagement from June 7-July 3, with a planned Broadway opening in the 2016-2017 season, reported Entertainment Weekly.
The "one of a kind musical event" will feature original songs by musicians, including Aerosmith's Steven Tyler and Joe Perry, Jonathon Coulton, Dirty Projectors, The Flaming Lips, John Legend, Lady Antebellum, Cyndi Lauper, Panic! At the Disco, Plain White T's and They Might Be Giants.
It will be directed and co-conceived by Tina Landau with a book by Kyle Jarrow and music supervision by Tom Kitt, with an additional song by David Bowie.
"We're taking our leads from the TV show but this is an original story, with an original design approach, and original songs written just for the occasion by an amazing array of songwriters.
"We're bringing the show's fabled characters to life through actors - not prosthetics or costumes that hide them - and we're deploying some unconventional stage craft that will prove that anything can happen in Bikini Bottom.