Sheeran will perform to 700 fans, aged over 18, to mark the "grand opening" of HMV Empire in Hertford Street.
The concert on 25 August is also part of celebrations for the company's centenary with tickets to be issued in a free draw.
The venue has moved from Far Gosford Street and undergone a £500,000 redevelopment.
Sheeran said: "HMV is a store that I spent a lot of time in growing up and a place where I discovered lots of new music, so I'm looking forward to celebrating this milestone with them."
Phil Rooney and Dave Brayley, the site's co-owners, said: "To have Ed Sheeran - one of the world's biggest artists - not only coming to Coventry but performing in our new venue, the HMV Empire, is simply mind-blowing."
People can register on the firm's website from 08:00 BST to be entered in the draw to receive tickets.
The firm added those attending the gig would have their temperatures checked, as part of continuing measures to tackle the coronavirus pandemic.
The pop star's performance coincides with Coventry's year-long programme of arts events as the City of Culture.