The event will be hosted by Chris Evans and will take place in London on September 11, 2011.
Richie will be performing with the BBC Concert Orchestra and Jools Holland and his band is also on the line-up, with more guests set to be announced soon.
The BBC's Head of Programmes Lewis Carnie said: 'Music is at the heart of Radio 2's output, and with an incredible line-up to be announced in coming weeks, there will be something for everyone at this year's Hyde Park show.
'And with Lionel Richie headlining the whole event, it's a great way to end the summer in style.'