Agency Captive Minds was given a week to create the street festival, which will also celebrate the countdown to the London 2012 Games.
From 4pm till 9pm the Lane will play host to a variety of live entertainment, culinary demonstrations and family activities including a world record attempt to build the tallest poppadom tower.
Chefs from local restaurants will go head to head to produce their best dish judged by an expert panel of culinary experts, while visitors will be able to sample dishes.
The event will continue into the evening with musical performances by DJ Sancho Panza and a live link up to the Tower of London to watch the Olympic torch arrive at its first London venue as it spends its first night in the capital.
Lutfur Rahman, Mayor of Tower Hamlets, said: "I am delighted to be hosting this event to mark the Olympic Games and our pivotal role as one of the host boroughs.
"Like all of Tower Hamlets, Brick Lane is a vibrant area and in many ways its history embodies the Olympic spirit; triumphing over adversity, welcoming new cultures and providing first class entertainment.
"It’s an area that deserves to be showcased to the world, and I hope the many visitors heading to Tower Hamlets will enjoy it in its full glory."
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