The Gypsy King will make an appearance at KK's Steel Mill on Frederick Street for "The AfterParty" on Friday June 24, and tickets go on sale tonight at 6pm.
But fans will need to be quick on their feet, as tickets are expected to sell out fast.
The event is being run by ShowFighter, the Midlands events and boxing promotion company, in conjunction with Goldstar Promotions.
Director Andy Sahota said: "This is my fourth time working with Tyson, who's a good friend of mine.
"I brought him to Wolverhampton in 2017 on the day when he got his boxing licence back and he was coming out of depression.
"It's an honour to bring the greatest boxer of all time to Wolverhampton, to my home town."
There will also be celebrity DJs and live bands to "celebrate Tyson and where he's come from".
"He's gonna party with us", Andy added, "and that's what we're known for at ShowFighter - putting on a good show and making it a good value for money for fans."
The AfterParty will start at 6pm on June 24.
Tickets go on sale at 6pm tonight on the ShowFighter website.
The announcement comes days after a Tipton pub and restaurant launched a new Tyson Fury pie.
Black Country institution Mad O’Rourkes Pie Factory has created a meal which features British brisket, slow cooked with onions in its signature gravy.
Mad O’Rourkes owner Peter Towler said he wanted the champion boxer to try it for himself.
“Well now that he’s no longer got the strict diets and the training camps to contend with, what better way to celebrate than with some classic Black Country fayre.
“We’d love him to come down and give it a go for himself!”