The event, which takes place from 8-15 December, is billed as the ‘highest level tournament in London for 25 years'.
It will feature four English grandmasters competing alongside former world champion Vladimir Kramnik.
The West London based venue will host a 400-seat soundproof auditorium, with two commentary rooms, multimedia presentation and space for speed chess tournaments and junior training.
Events aimed at raising the profile of the game, and its educational value, will run alongside the tournament.
"Spectators will be treated to live commentary on the games from grandmasters and will be able to play serious or informal games all day," said a spokesperson for Olympia.
"Some of England's leading trainers will be on hand to run chess classes for all levels. For those who cannot attend there will be live coverage and commentary on the games on the internet."
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