The June 9 gig is being held to raise both funds and awareness for the Robin Hood Foundation, a charity which aims to help New Yorkers living below the poverty line and has also provided support for the victims of the 9/11 terror attacks.
Black Eyed Peas singer Fergie expressed excitement that Swift will be appearing alongside LL Cool J, Natasha Bedingfield and Carole King to aid in the fight against poverty.
"We are thrilled to have Taylor on board to benefit two very important causes," Fergie said in a press release. "Not only will she be an amazing addition to our lineup, she is an incredible inspiration to people of all ages and her music gives a voice to those who feel left behind."
View co-host Whoopi Goldberg, Zach Braff and Jimmy Smits will also be on hand to address the crowd.
More than 50,000 free tickets have been given away, but fans can still enter to win a special VIP seating package on the Robin Hood Foundation's website.
'The Concert 4 NYC' kicks off on June 9 at 7.30pm at Central Park's Great Lawn.
Swift and Shania Twain are to open this evening's CMT Music Awards with a sketch spoofing the 1991 movie Thelma & Louise.
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Watch Taylor Swift's music video for 'Back To December' below: