Stanton, who also won the league and Scottish Cup with Celtic, is set to be a given a guard of honour by both teams before kick-off.
The tribute follows a successful event held by the Hibs Former Players’ Association earlier this month.
High-profile football figures such as Sir Alex Ferguson and Alex McLeish gathered at the Usher Hall in Edinburgh to celebrate Stanton’s career, which included over 600 games for Hibs.
He has also been a manager and ambassador of the Easter Road club.
Hibs played Celtic in a testimonial match for Stanton in 1978 and a crowd of almost 40,000 turned up.
While Saturday’s clash is an already scheduled league match, Stanton, who turned 75 on 13 September, will again be honoured by the same two teams.
The match has potentially huge significance for Hibs following Sunday’s 2-1 derby defeat to Hearts. Paul Heckingbottom’s side could find themselves at the bottom of the league if they drop points against the champions and 12th place St Johnstone beat Motherwell later the same afternoon.
But Stanton’s appearance before the match is sure to give the players a boost as well as rouse the fans before a huge televised match and following a difficult few weeks.
Paul Kane, chairman of the Former Players’ Association, said it was a fitting tribute to “the last of the true Hibs icons – he grew up a Hibee, played for the Hibs and also managed them. There are still quite a lot of punters who remember him playing, so it’s the right thing to do.”
He added: “I’d like to think the players will want to put on a good show in front of Pat and also that the fans will get a lift from seeing such a legendary figure on the pitch before such an important game.”