The German, who joined Mercedes in his new role this year after two seasons competing for Haas, will complete runs on both the Saturday and Sunday of the three-day Goodwood event on 14-16 July.
The W02 was the second car designed and built by the Mercedes F1 team following its purchase of Brawn GP at the end of the 2009 season.
Raced by Michael Schumacher and Nico Rosberg, the car was a regular points scorer as it helped the squad to fourth place in the constructors’ championship. It remains the only Mercedes car that failed to finish on a podium, with its best result being fourth at the 2011 Canadian Grand Prix.
Speaking about the opportunity of driving at Goodwood, Schumacher said: "It's going to be spectacular to run in my dad’s 2011 car, the W02, even if it is only a short run. Just experiencing this generation of cars will be mega!
"Knowing that he raced this car makes it extra special, and there will be many emotions coming with it. I have been lucky enough to drive one of his Benetton cars and some of the Ferraris he raced, but this will be the first time behind the wheel of a Mercedes he drove. I am sure I will get out of it with a big smile on my face."
As well as Schumacher being present for Mercedes at Goodwood, Esteban Gutierrez will run up the hill in a W12 – the car that delivered the German manufacturer its most recent constructors’ championship success in 2021.
Beyond the cars running, Mercedes will display them to the public in the official F1 Pit Lane area that runs from Friday until Sunday.
Schumacher is not the only major F1 name driving at Goodwood, with four-time world champion Sebastian Vettel having also recently confirmed his presence there.
Vettel will be running cars from his own private collection, including a Williams FW14B and McLaren MP4/8, as he champions the use of fully sustainable fuels.