Four students were killed and nine were injured at Kent State University on May 4, 1970 when the Ohio National Guard opened fire on a crowd protesting the Vietnam War.
The benefit concert will take place on May 4 will all proceeds supporting the May 4 Legacy Scholarships program which will provide four scholarships to students majoring in the Peace and Conflict Studies program at Kent State.
Tickets go on sale March 6 at 10 a.m. local time. Walsh, who was present at Kent State during the incident, will be performing with his band Barnstorm which also includes drummer Joe Vitale and bassist Kenny Passarelli.
Crosby and Walsh will be joined by other acts that will be announced at a later date.
"We are extremely honored and grateful to have these two world-class musicians as part of our 50th commemoration activities," Kent State president Todd Diacon said in a statement.
"The willingness of these artists to help us raise funds for the scholarships to demonstrate the commitment and strong ties that these individuals have to honoring those killed and wounded on May 4, 1970, and ensuring a lasting legacy of learning and peaceful reconciliation," he continued.