The parade will "bring His Royal Highness's individual program to a conclusion, although he may choose to attend certain events, alongside the Queen, from time to time," a spokeswoman for Buckingham Palace said.
Philip is the Royal Marines' Captain General, after he was given the title following King George VI's death in 1953.
The Aug. 2 event will be Philip's 52nd public engagement in 2017. The list includes his attendance at the official opening of the Metropolitan Police headquarters at New Scotland Yard and his meeting with actor Tom Cruise at Buckingham Palace for the 75th anniversary of the Outward Bound Trust.
In June, the Prince was released from a London area hospital after he was treated for an infection from a pre-existing condition.