It is the first time that the Stormont grounds will be used for such an event.
The initiative was led by Northern Ireland Secretary, Mo Mowlam, who wants to open up the facilities to the public.
"I am delighted Elton is coming to Stormont. It is going to be a spectacular event which thousands of fans will enjoy. It will be very exciting and good for Northern Ireland," said Ms Mowlam.
Although the concert is not linked to the referendum, commentators say it will contribute to a feel-good factor in Northern Ireland. It is expected to attract at least 15,000 people.
Sir Elton said he is giving his services free, and profit from the £25 a head tickets will go towards building education facilities in the parkland.
Elton praises Belfast fans
It is nearly 10 years since Sir Elton last performed in Belfast, but he says that his Northern Ireland fans are more responsive to his music than anyone else.
"I said in the past they are the most responsive anywhere and want to find out if that is still true," he said.
The Lord Mayor of Belfast Alban Maginness said he applauded the initiative.
"I particularly look forward to welcoming to our capital city Sir Elton John, such a respected and internationally renowned artist," he said.
"I feel confident that the public will show their appreciation and support by turning out in large numbers for the concert."
Promoter Jim Aiken, who is also giving his services free, said it was a real coup to be able to stage the concert.
It is being reported that other peformers at the Stormont concert are likely to include George Michael, The Spice Girls, and All Saints. However, no other acts have yet been confirmed.
Northern Ireland agreement possible
(03 Apr 98 | Events)
Arise, Sir Elton!
(24 Feb 98 | UK)
Elton John Aids Foundation
Northern Ireland Office
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