The event at Parliament Hill Athletics Track will occur at the entrance from 3:30-7:00pm on the 24 of March, and anyone is allowed to attend.
The project involves improvement to the track itself in order to maintain UK Athletics TrackMark accreditation, a requirement for hosting major national and international athletics events.
Chair of the City of London Corporation’s Hampstead Heath Management Committee, William Upton KC, said: “The track is an important community sports venue and is open to everyone, from elite athletes to school children.
“Sport has a hugely positive impact on community health and wellbeing, and on London’s attractiveness as a leading global city. That’s why the City Corporation is making this multi-million pound investment in its future.”
The track will be resurfaced for the first time since 1978, and has existed since 1939.
Other changes include upgrading the flood lights, as the City of London Corporation seeks better energy efficiency while remaining environmentally friendly, and a reduction in light pollution.
The track is currently used by the Highgate Harriers club, and is open to running clubs, schools and the general public in central/north London.
The Corporation takes care of Hampstead Heath alongside 11,000 open space acres in London and parts of south east England, as well as smaller areas in the Square Mile.
It invests over £38 million into these types of projects per year, with little to no charge to the communities that use them.