The sporting event will begin on 27 July, marking the anniversary of the ceremony in the £429m venue.
British athletes Jessica Ennis and Mo Farah are among those expected to compete in the Grand Prix, which is part of the Samsung Diamond League annual series of track-and-field competitions.
Niels de Vos, chief executive of UK Athletics, said: "We are delighted that the British Athletics London Grand Prix will be held at the Olympic Stadium in July, and the fact that it’s on the first anniversary of the opening ceremony is very special. The Olympic Stadium created some incredible memories in 2012, memories that rekindled the British public’s love for athletics."
The stadium is already confirmed to host the World Athletics Championships and the Paralympic Athletics World Championships one month apart in 2017.
The announcement follows the news of the Legacy Corporation’s deal with Live Nation to hold the Wireless and Hard Rock Calling festivals in the park this summer.
The Olympic Park – now known as the Queen Elizabeth Olympic Park – will open in phases until spring 2014.
Boris Johnson, Mayor of London and chairman of the London Legacy Development Corporation, said: "After last summer's amazing Games we can now see the stadium's legacy emerging as a top venue for both international sport and entertainment."
Comment below to share your views. For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine by subscribing hereFollow @LouiseRidley