The 46-year-old guitarist will receive the 2,473rd star on the landmark, which features stars honouring hundreds of Hollywood icons.
Charlie Sheen and movie producer Robert Evans have also been tipped to attend the unveiling ceremony, which will take place on July 10 in front of the Los Angeles Hard Rock Cafe.
Ana Martinez, producer of the Hollywood Walk of Fame ceremonies, told WENN of the coming event: "We are proud to place [Slash's] name among the stars on our fabled Hollywood Walk of Fame."
The honour makes Slash the first member of Guns N' Roses to receive a star at the landmark.
The musician has been estranged from his former bandmate Axl Rose, who allegedly banned fans from wearing Slash t-shirts during a recent UK gig.
Slash will perform a private acoustic set with singer Myles Kennedy after the ceremony.
Watch the video to 'Sweet Child of Mine' by Guns N' Roses below: