The show will take place on the Ben Franklin Parkway.
It will also feature performances by Philadelphia's own DJ Jazzy Jeff, Adam Blackstone, rock band Dorothy and Technician the DJ.
"Philadelphia is thrilled to welcome everyone to our vibrant city as we celebrate New Year's Eve and kick off the 250th anniversary of our nation's independence," said Philadelphia Mayor Cherelle Parker.
The concert will begin at 8 p.m. with the fireworks display at midnight.
LL Cool L was scheduled to perform at Philadelphia's 4th of July celebration concert this year, but dropped out due to the DC33 strike.