"In the forefront of our minds was honouring his legacy", the band say of the late Swedish DJ, whose album 'Tim' they worked on.
Proceeds from the all-star benefit show will support the work of the new Tim Bergling Foundation, raising awareness in relation to mental health issues.
Featuring 12 tracks, the much-anticipated 'Tim' is due for release on 6 June.
The posthumous track was nearly 80s percent finished before producers and songwriters Vincent Pontare and Salem Al Fakir (aka Vargas & Lagola) stepped in.
The first track, 'SOS', is due for released on 10 April, with 'TIM' to follow early in June.
"It is with profound sorrow that we announce the loss of Tim Bergling, also known as Avicii".