With the event expanded from a circuit race to a full road race for 2016, and handed a UCI ranking, riders from all over the world will take to the start line.
Organisers Welcome to Yorkshire and ASO have secured backing from supermarket Asda and raised a £50,000 prize fund for the race, making it the most lucrative race in the world.
Armitstead did not take part in last year's event, saying that it wasn't financially viable to return to the UK for a short circuit race, but has worked with organisers to expand the event this year.
“The Asda Tour de Yorkshire Women’s race will be my first race in the UK in my World Champions jersey and it’s an absolute dream to be starting in my home town," said Armitstead, who will race for the Great Britain team.
The race will travel from Otley to Doncaster along the same route as the men's stage, which will follow later in the day.
Live coverage of the race will be broadcast on both ITV4 and Eurosport.
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