The online petition proved to be the most popular ever published on the Government’s website.
Today the Petitions Committee announced the debate would be held on the 5 September.
However, the committee stressed that it would not be supporting the call for a second EU referendum, adding it was “too late” to alter the referendum rules.
In a statement the House of Commons Petitions Committee said: “A debate in Westminster Hall does not have the power to change the law, and won’t end with the House of Commons deciding whether or not to have a second referendum.
“It will be up to the government to decide whether it wants to start the process of agreeing a new law for a second referendum.”
The clamour to add signatures to the petition came amid dissatisfaction from voters who wanted the country to remain part of the union while anecdotes immediately began to emerge from those who said they regretted voting to leave.
The referendum saw 51.9 per cent of votes cast to leave the EU, versus 48.1 per cent for remaining part of the bloc, with a turnout of 72.2 per cent, according to the Electoral Commission.
All 32 council regions of Scotland voted to Remain.
Nearly 80,000 names were previously struck off the petition after they were found to be fraudulent.
The Conservative led government have already distanced themselves from the notion of a second EU referendum.
Responding to the petition, a Government spokesman said: “The Prime Minister and Government have been clear that this was a once in a generation vote and, as the Prime Minister has said, the decision must be respected.
“We must now prepare for the process to exit the EU and the Government is committed to ensuring the best possible outcome for the British people in the negotiations.”