Speaking at a Los Angeles press conference on Monday, Jackson's mother Katherine and siblings LaToya, Tito, Marlon and Jackie confirmed that the 'Michael Forever Tribute Concert' is scheduled for October 8 at Cardiff's Millennium Stadium.
Katherine told reporters: "This is a world-class event so I decided to join in. When I was told about the possible lineup I knew it would be an event fit for a king.
"I'd like to thank all the fans who have kept supporting us. Thank you all so much for keeping my son's legacy alive."
The concert will be broadcast internationally and will raise money for three charities including AIDS Project Los Angeles.
Performers for the event are expected to be announced early next month and tickets are due to go on sale on Wednesday, August 3.
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Watch the extended version of 'Thriller' by Michael Jackson below: