The event will support Enable Ireland which has already received planning permission for the centre.
The planned facility is expected to cost in the region of €7.5m and is scheduled for opening in 2020.
The city cycle will take place on Sunday, August 13, with participants traversing the city on closed streets and being given priority at junctions on outlying roads.
Elite Event Management has been working with Enable Ireland, Cork City Council, Cork County Council and the Garda Síochána to run the event.
At the launch of the ‘Enable Ireland City Cycle Cork’, its chief executive Fionnuala O’Donovan said they had provided services to children and adults with disabilities in Cork since 1954.
Over time, she said, the number of children requiring therapy and support services has increased significantly.
“Our children deserve the best and we have set ourselves a challenging task to raise €7.5m to build this centre. We now ask the people of Cork, and further afield, to join us in making this centre a reality,” she said.
Oliver Kirwan, director of Elite Event Management, said it will be the first time the general public will have an opportunity to race on closed roads in the city.
“This is an event for everyone from those dedicated cycling enthusiasts to those looking for a new challenge to work towards. Enable Ireland are an inspirational charity and we are very pleased to be working with them to run this event.
“We hope,” he added, “that we’ll get as many people on their bike as possible to help raise vital funds for the new Cork children’s centre.”
Keen cyclist Minister Simon Coveney, also at the launch, said it was a very worthy cause and he’d be encouraging as many people as he could to sign up.
Multiple All-Ireland winning Cork footballer and hurler, Valerie Mulcahy, said it will be a great addition to the Cork sports and social calendar.
“I know many experienced cyclists who will relish the opportunity to ride through closed city streets. Cork will make a great setting for this event and it promises to be a great day,” she said.