Among those already confirmed to attend the Jan. 20 event are Anne Hathaway, Spike Lee, Kerry Washington, Susan Sarandon, Jane Krakowski, Alfre Woodard, Barry Levinson, Dana Delany, Maggie Gyllenhaal, Peter Sarsgaard, Wendie Malick, Josh Lucas, Matthew Modine, Rachael Leigh Cook, Alan Cumming, Connie Britton, Richard Schiff, Ellen Burstyn, Giancarlo Esposito, Gloria Reuben, Lynn Whitfield, Tamara Tunie and Tom Fontana, the newspaper said.
Those stars are to be guests of The Creative Coalition, a group that works to get the entertainment industry involved in social and political issues.
The Daily News said recording artist Beyonce Knowles has also volunteered to sing at the gala, while her husband, rapper Jay-Z, is also said to be in talks to perform.
British media reports claim Leona Lewis has been asked about her availability on the day and Bruce Springsteen has hinted he might make an appearance by publicly noting his latest album is set for release around the time of the inauguration.
The entertainment lineup for the event has not yet been announced, however.