The 5,000 and 10,000 world champion plans to attempt the double at the London Games which open on July 27.
"I'm really looking forward to coming to compete in London in my final race before the Olympics," Cheruiyot said in a statement on Monday.
"I will be racing against some of my potential Olympic opponents so it will be good practice for me. I spend a lot of time in London and it is like a second home for me."
World 5,000 silver medallist Sylvia Kebet and Linet Masai, who won bronze in the 10,000 in Daegu, will line up against their compatriot in the two-day Diamond League meeting at Crystal Palace.
(Writing by Alison Wildey; editing by Tony Jimenez)