The British musicians will take to the stage at New York City's Carnegie Hall on April 3 alongside James Taylor and Smash star Katharine McPhee.
Country music stars Vince Gill and Rosanne Cash and Welsh opera star Bryn Terfel round out the all-star benefit's musical lineup.
Meryl Streep - who recently won her third Oscar for The Iron Lady - is to serve as a presenter for the event.
Rainforest Foundation founder Trudie Styler – who is married to Sting – said of this year's lineup: "We're so thankful for artists like Elton John, James Taylor, and the many others who are doing their part to support the Rainforest Fund in its quest to raise awareness of the global environmental crisis we're facing."
Sting and Styler started the organisation in 1989 to support preservation of rainforests around the world.
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Watch Sting, James Taylor and Billy Joel perform 'Turn Turn Turn' at the 2008 Rainforest Foundation benefit below: