Out in the open at the West Sussex location will be some of the cars the champion drove during his career. Damon Hill, one of Schumacher’s rivals back in the day, will be driving one of them.
Schumacher’s family, through spokesperson Sabine Kehm, said is delighted about Goodwood’s decision.
"It is especially fitting this year, as the event's 'Record Breakers' theme perfectly encapsulates his incredible achievements, including records, many of which may never be broken,” she said according to Motorsport Magazine.
“We hope the public enjoy the opportunity to see an assortment of his winning cars, and the many friends, rivals and team members, who are coming to Goodwood to support the occasion.”
Michael Schumacher drove for nearly 17 years in Formula 1. He won a total of 91 races while driving for Jordan Grand Prix, Benetton and eventually Ferrari. He retired from Formula 1 in 2006.
His glory years remain those spent at Ferrari. Of the seven championship wins of his career, five were consecutive and took place while driving for the Italians, between 2000 and 2004.
In December 2013, Michael Schumacher was badly injured while going down a ski slope in the French Alps. As a result of this incident, the Formula 1 star had to undergo two surgeries and spent a great deal of time in a drug-induced coma.
His current physical state remains largely unknown.