Also producing the Sept. 7 fundraising program at the Shrine Auditorium is Joel Gallen of Tenth Planet Productions.
The show will feature performances from recording artists, and appearances by film, television and sports stars.
ABC, CBS, FOX and NBC are donating one hour of simultaneous commercial-free, prime-time for the nationally televised program. HBO, HBO Latino, Bio, Lifetime Movie Network, Logo, MLB Network, mun2, Palladia and VH1 have also committed to carry the Stand Up To Cancer telecast.
One hundred percent of all public donations will go directly to cancer research, the organization said.
"This broadcast has become a global call-to-action for all those touched by cancer," Paltrow said in a statement. "Like so many people, I know what it's like to lose a family member to this disease, and I'm honored to stand up in my father [Bruce's] memory."
Gallen previously produced the successful televised fundraising specials "America: A Tribute to Heroes," "Shelter From the Storm: A Concert for the Gulf Coast" and "Hope for Haiti Now."
"Music and its ability to heal, unite and motivate will play a central role in this year's show, as will the stories of people affected by cancer and how SU2C is changing their lives," Gallen said. "It's an honor to build on the terrific legacy Laura Ziskin established with the previous two broadcasts."
Ziskin was a film producer and member of the SU2C Executive Leadership Council. She lost her seven-year battle with breast cancer in June 2011. She was 61.
2014: The Year in Music [PHOTOS]