It will be at Thong Nhat Park with four entrances on Tran Nhan Tong, Nguyen Dinh Chieu, Le Duan and Dai Co Viet streets.
According to Nguyen Van Thang, the festival will feature three types of street entertainment – skating, freestyle football and hip-hop dancing.
"The festival is to promote street arts in Hanoi ," he said, "It's a chance for young people to compete and share passions in a modern healthy way."
The organisers have already received more than 100 registrations from individuals and teams wishing to take part.
The event is part of a series of "I Love Hanoi" activities initiated by the union.