The weekend event will be based out of Sandown Airport on 24th & 25th July 2021.
It will be eyes to the skies as many different types of fixed-wing aircraft compete in the race, which has been organised by British Air Racing.
The route is expected to follow the original route around the Solent area.
The Schneider Trophy race was first held in 1912 and was ran on 12 occasions until 1931. The trophy itself is safely stored at the Science Museum in London.
A number of revival races have taken place over the past 40 years to re-enact the famous battles. One such race was due to be held in 2010 but was cancelled following a fatal accident near Ryde during the Merlin Trophy Race.
Racing returned to the Isle of Wight in 2018 and it is expected that this latest event will follow a similar format, with plenty of entertainment and great food for spectators at Sandown Airport.