President Trump is calling his event a 'Salute to America' in honour of the armed forces, and he will speak at the Lincoln Memorial in front of a ticket-only, VIP crowd of Republican donors, administration and campaign officials, family members.
The speech is scheduled for 18:30 local time (22:30 GMT). The President's address to the nation will be televised, as well as the display of military hardware and a fireworks display.
It is reported that after Mr Trump's speech, there will be a 21-gun salute and a flyover by the Air Force One.
However, the event is due to draw in many protestors who are critical for what they see as a divisive intrusion on a traditionally unifying national holiday.
Under White House direction, the Pentagon is arranging for an Air Force B-2 stealth bomber and other warplanes to conduct a fly-past.
There will be Navy F-35 and F-18 fighter jets, the Navy Blue Angels aerobatics team, Army and Coast Guard helicopters and Marine V-22 Ospreys.
The Federal Aviation Administration announced on Tuesday that operations at Ronald Reagan Washington National Airport would be suspended twice during the celebrations. In normal years it does not close at all.
President Trump has also come under fire for the cost of the event but in response, he tweeted it "will be very little compared to what it is worth".
"We own the planes, we have the pilots, the airport is right next door (Andrews), all we need is the fuel," he said, referring to Maryland's Joint Base Andrews, home for some of the planes that are to fly over the Mall on Thursday.
"We own the tanks and all. Fireworks are donated by two of the greats."
The cost of our great Salute to America tomorrow will be very little compared to what it is worth. We own the planes, we have the pilots, the airport is right next door (Andrews), all we need is the fuel. We own the tanks and all. Fireworks are donated by two of the greats. Nice!