Maharashtra Chief Minister Devendra Fadnavis and Asian Football Confederation (AFC) President Shaikh Salman bin Ebrahim Al Khalifa will inaugurate the new-look stadium in South Mumbai.
The sport complex had been closed for renovation since 2011.
All-India Football Federation (AIFF) President Praful Patel, Maharashtra Minister of Education and Sports Vinod Tawde are some of the other dignitaries who would be present on the occasion.
In addition, corporate leaders, owners and partners of ISL football franchises and AIFF officials will also attend the inauguration ceremony.
All the ex-internationals will receive mementos for their meritorious contribution to the popular sport, a statement said here today.