The panel is part of Westfield's new Studio East initiative which will provide a bursary for a series of commissions to be incorporated into the £1.45bn development. The bursaries will be given to young artists to give them exhibition opportunities.
The panel was selected for its expertise in the four categories of fashion, art, product design and environment and includes product designer Tom Dixon, fashion designer Roland Mouret and model Erin O'Connor.
Mary Portas, retail expert and chair of the Cultural Committee, said: "Studio East will engage a cultural community to identify, foster and nurture the freshest new talent across four distinct categories.
"This initiative will create a fusion of sustainable art, design, culture and fashion within the dynamic environment of Westfield Stratford City which will create a new benchmark for the future of retail."
Westfield Stratford City is due to open in the second half of 2011 and will be a gateway to the Olympic Park.
John Lewis, Marks & Spencer and Waitrose have already signed up to the site, which will house more than 300 shops as well as office, hotel and leisure space. It will be the largest urban shopping centre in Europe.
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