The group will perform at Central Hall Westminster before the annual New Year's Eve fireworks display along the Thames river, according to Billboard.com.
A statement from Lambert reads: "Words can't describe how excited I am. We are going to kick off 2015 in style."
Queen drummer Roger Taylor adds, "(It's going to be) a great night. I never imagined we would be around to usher in the year of 2015. What a thrill!"
The concert will be live-streamed on BBC One.
Lambert took on frontman duties for Queen earlier this year and Taylor and guitarist Brian May have admitted his recruitment has woken them up.
May feared the Lambert experiment would be Queen's last hurrah just before he stepped in to sing the songs the late Freddie Mercury performed live, but now May believes the band has a big future - and it's all thanks to the flamboyant former American Idol star.
He recently told Vh1, "There's a big call to do more shows now, so, there's a good possibility that we will do more shows. I think, beyond that, we'll just see.
"I feel so fortunate to be going out there. I never thought it would happen again. When Freddie went, I thought, 'That's it. We did that. It was a great life. Now, it's time to have a different life', and for years, we didn't try to be Queen in any way. I think he's (Lambert) woken us up."