The 15-times grand prix world champion and 10 times TT winner returns to the circuit where he was beaten by local motorcycle racer John Cooper back in 1971 at the Race of the Year.
Cooper will also attend the Vintage event and will be bringing along the BSA Rocket 3 which he beat Agostini on all those years ago.
A plethora of riders from yesteryear will join the dueling pair on track for the Stars Parade which forms the highlight of the Festival.