The event, which will be filmed by Double Jab Productions, will coincide with the 20th anniversary of World Aids Day. Sky One will use the event to help raise funds for AIDS charities.
Held at the club's London Astoria home on Thursday November 29 and Friday November 30, the event will feature live music performances with winners receiving the G-A-Y Awards’ "Gizmo" statuette in front of a live audience.
The hosts of the show are still to be confirmed, but the club's promoter and founder Jeremy Joseph will manage a panel of celebrities who will discuss who has won what before each award is announced.
The 12 awards will be voted for by the public with categories like 'Sex God/Goddess of the Year' and 'Bigot of the Year'.
Voting has begun on all four G-A-Y Club nights, with voting online via the G-A-Y Club, Sky One and Double Jab Productions websites to follow.
Rumours had been circulating that the reformed Spice Girls would be performing at the club on these dates.