The Obamas will deliver commencement addresses and a joint message to graduates during the event which is set to begin June 6 on the YouTube Originals channel.
BTS will perform during a virtual after-party along with other musical guests.
YouTube will release the full schedule of events on the Learn@Home site starting on May 17.
Barack Obama will additionally deliver a commencement message for high school seniors on televised special Graduate Together: America Honors the High School Class of 2020.
ABC, CBS, NBC and Fox will air Graduate Together simultaneously on May 16 at 8 p.m. EDT.
Both events will help seniors celebrate their graduation virtually as schools are closed due to the COVID-19 pandemic.
Facebook previously announced plans for #Graduation2020: Facebook and Instagram Celebrate the Class of 2020 which will begin May 15 at 2 p.m. EDT on Facebook Watch.