The event, called Radio Reunited, will take place on November 14 at 5.33pm GMT, exactly 90 years since the first transmission by the British Broadcasting Company in 1922.
Radio Reunited will air across all local, network and national BBC stations, along with the World Service; reaching a potential global audience of 120m people.
The three-minute transmission will be based on recorded messages from listeners around the world on the theme of the future.
Each of the around 60 participating BBC radio stations will select one message from their listeners, and then these will be mixed together and set to a score composed by Blur frontman Albarn.
He said: "I love the idea of stations across Britain and the World Service coming together, with all of our different lives and circumstances, even if it's only for a few minutes. It's a powerful idea."
The landmark BBC broadcast will form the centrepiece for the BBC's celebration of 90 years on the airwaves, along with a range of special programming planned across BBC stations
The process of pulling together Radio Reunited starts this week, when listeners will be invited to contribute a short messages to their favourite BBC station, addressing the future generations who may be listening to radio 90 years from now.
According to the BBC, the messages could be "a hope, a fear, an observation, question or piece of advice", and they can be tweeted, texted or e-mailed in by listeners.
Any listeners whose messages are chosen will be invited down to their chosen station to record their thought. One message from each station will be sent to Albarn, who will use them as the basis for his simulcast.
The recordings will also be passed on to the Mass Observation Archive at the University of Sussex to ensure they are preserved for another 90 years and can be made available for academic research.
"This ambitious project will bring all of the BBC's UK stations together for the first time in their history to mark 90 years of radio broadcasting," said the director of BBC Audio & Music Tim Davie.
"It is great news that Damon has agreed to curate Radio Reunited and join us in looking forward to the next 90 years of radio."
The first transmission from what was then called the British Broadcasting Company (later renamed the British Broadcasting Corporation) went ahead on November 14, 1922. The BBC had only been formed the previous month, on October 18.
The broadcast came from the transmitter 2LO, located at Marconi House in London, and opened with the now famous words: "This is 2LO calling…"
As part of the celebrations, the BBC is partnering with the Science Museum, which now houses the 2LO, and the National Media Museum in Bradford to explore the impact of BBC radio innovation over the years.