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1 November 2018, 11:29 | Updated: 1 November 2018, 12:29
The concert will mark what would have been his 56th birthday.
The show is expected to be held at London’s O2 Academy Brixton on June 25 in 2019, and will be led by a line up that includes his former backing singer Shirley Lewis, bassist Deon Estus and guitarist Michael Brown.
The concert is being staged by Chris Cameron, who previously worked as George's musical director for some of his biggest tours.
“George’s family are onboard and very supportive of this," said an insider. "It was important to seek their permission. It’s wonderful that a date is the diary at last to celebrate George’s amazing life and music.
“There will be a number of special guests on the night and, over the coming months, organisers will finalise those taking part. It’s all being kept under wraps.”
While the full line-up is yet to be revealed, it has been claimed that George's close friend Geri Halliwell could be among the star guests.
Shirley Lewis said: “This started out as a private event for the GM band and singers, for us to share a night together, in honour of a man and friend who we all miss terribly. George means so much to us and we haven’t been together since we heard that awful news on that Christmas day.
“We, the band and singers are like a family and we are coming together to remember someone who we loved and who loved us.”
Meanwhile, a movie based on Wham!'s 'Last Christmas' is currently in the works, and will feature previously unreleased songs by George Michael.