The 65-year-old singer, whose hits include 'Easy', 'Hello' and 'All Night Long', will play the Sunday teatime slot, which has hosted Kenny Rogers, Paul Simon and Dolly Parton in recent years, reported Guardian online.
"I am really excited to play Glastonbury next year as it is one of the most iconic festivals in the world," said Richie.
"It has a phenomenal history and the alumni of artists who have previously played is incredible so I am honoured to be joining that club. It will be a really special moment for me and I can't wait to share it with everyone. I can now say 'Yes, I am playing Glastonbury'," he added.
"He is one of the great soul legends. He has got all the songs, some incredible songs, and I think he will get people on their feet. There will be a lot of love out there for Lionel."
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The Sunday afternoon slot, which caters for music industry legends, has grown in stature over the last decade. Past performers include James Brown, Leonard Cohen and Brian Wilson, who played an emotional set as the sun finally came out during 2005's particularly muddy year.
Richie will be embarking on a series of European dates from February next year, and arrives in the UK at the end of that month.
This year's Glastonbury festival has already sold out, with all 150,000 tickets snapped up in record time after they were put on sale in October.