The businessman bought the Hoops in 1994 and transformed their fortunes on and off the field following years of financial problems, during which Rangers dominated domestically.
Events will be held at the champions' Premiership clash with Inverness Caley Thistle on March 1 to pay tribute to McCann and he will jet into Glasgow for the first home league fixture of the new season in August.
The Paradise faithful will be given a chance then to thank him for his efforts in saving their club.
Chief executive Peter Lawwell said: "We are delighted that Fergus has agreed to be our Guest of Honour at our first home match of next season.
"2014 is a very special year for Celtic, with a great deal happening for the club. It is a year of real significance as it marks the 20th anniversary of Fergus's takeover of Celtic. It is right that the special contribution he made to Celtic is marked in this way.
"Fergus's intervention in 1994 delivered the current Celtic Park, at the time the largest club stadium in Britain and, ultimately, he reestablished Celtic as a footballing force by winning the Scottish Premier League in season 1997/98.
"He enabled supporters to take a stake in the club they loved, to be part of something and once again have pride in their team.
"His contribution has led directly to the position of health which our club is in today."
Due to commitments in the USA, McCann is unable to attend the Caley clash next month but he will be the club's guest of honour on the opening day of the 2014/15 season.
Celtic are almost certain to unfurl the league flag for the third successive time when they kick off the new campaign, with the Scots-born entrepreneur now set to be the star attraction.
Three years after McCann took control of the club the Hoops ended Rangers' run of nine successive top flight titles as they lifted the SPL crown in 1997/98.
McCann said: "It gives me great pleasure to see Celtic as such a successful and well-run club as it is today.
"That is credit to the faithful backing of the supporters, also the investors, and, since I left, the vision and management of the Board, Peter Lawwell and Neil Lennon and their staff and players."