Each of the artists will record one new piece of music on September 8, which will appear on War Child's 'Help: A Day in the Life' album. The proceeds from sales will go to helping children in war-torn countries such as Iraq.
The album will be available for downloading at on September 9, the 10th anniversary of War Child's previous 'Help' album.
The first War Child album, released in 1995, featured the likes of Oasis singing 'Fade Away', The Stone Roses and 'Love Spreads', Radiohead with 'Lucky' and Suede performing the Robert Wyatt song 'Shipbuilding'.
A CD version of the new album will sold in shops from the end of September.
Awareness of 'Help' will predominantly be generated through press coverage. However, War Child will also carry out some on- and offline marketing activity
Elbow singer Guy Garvey commented on the initiative. "It is difficult to have hope when your elected leaders drag you into immoral, illegal conflict regardless of how loud you shout," he said.
"The song we are recording for this event is called 'Snowball' and it deals with my personal disappointment and eventual outrage with Tony Blair's government. Elbow consider it a privilege that our songs can in any way help those most affected by war."
War Child said that it is still signing up other artists to record the album. Razorlight, The Zutons, Bloc Party, Hard-Fi, The Coral, Mylo and Maximo Park are all participating in the recording.
The charity was launched in 1993 as a response to the effect of the Balkans conflict on children. Since then, it has worked with communities in countries including Bosnia, Kosovo, Serbia, Rwanda, Sudan and Afghanistan.
In September 1995, its 'Help' album raised over £1.25m to aid children caught up in the Bosnian war.
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