The festival will be free and features music, dance and comedy. The hip-hop group De La Soul will headline the entertainment.
There will be an Asian mela tent, dance music, comedy and children's activities, and a tea dance is planned. The message is to celebrate diversity and oppose all forms of racism and discrimination.
Livingstone said: "Recent events in the UK and Europe have underlined the need for all sections of society to come together to promote the strengths that come from our multicultural and diverse communities."
He added: "I very much hope that business will join this effort to promote the benefits of diversity. Joining those businesses that have already sponsored the respect festival is one way to do that."
Respect is organised with the National Assembly Against Racism and will take place in Victoria Park in Hackney on July 20. Last year, 60,000 people attended the festival.
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