The Manxman was due to ride last year’s event but was forced to withdraw after his Tour de France crash in Harrogate.
But the 29-year-old will return to the Surrey roads with his Etixx-Quick-Step for the race he won in its inaugural year in 2011.
“I can’t wait to ride this year,” Cavendish said. “After only two years, this race is already an event every rider wants to win and you can’t beat racing in front of British crowds. After missing out in 2014 I was determined to ride in 2015.”
The 200km race starts on Horse Guards Parade in central London before heading out to the Surrey hills through Kingston upon Thames.
Box Hill and Leith Hill both feature again on the route, with riders taking in three loops of a circuit through Dorking and up to Ranmore Common.
Returning to London via Box Hill and Leatherhead, riders race through Parliament Square, up Whitehall and Trafalgar Square. After passing through Admiralty Arch the sprinters will open up along the Mall to the finish line.
Hugh Brasher, event director for Prudential RideLondon, said: “In just two years, Prudential RideLondon is now internationally recognised as the world’s greatest and largest festival of cycling and 95,000+ riders will cycle more than 3 million miles over the weekend of 1-2 August. It is all about inspiring a new generation of cyclists and riders such as Mark Cavendish will do that.”