The actor's son Chad McQueen will lead the parade, which will launch a week of tributes to his late father as part of the 2010 Jules Verne Festival.
The Steve McQueen Parade on Hollywood Boulevard will end at the intersection of Highland and Santa Monica Boulevard, where a retail square is to be named after The Great Escape star.
McQueen's son will unveil the square's new name alongside Los Angeles City councilmember Tom LaBonge and Jules Verne Festival founders Jean-Christophe Jeauffre and Frederic Dieudonne.
The festival will pay tribute to McQueen on Thursday (11Nov10) when members of his family and the cast of cult film Bullitt attend a special screening of the movie with fans - and when Chad McQueen will accept the Jules Verne Legendaire Award on behalf of his dad.
Jacqueline Bisset, Robert Vaughn and music composer Lalo Schifrin are expected to attend the event.