The Princess Royal will officially open the new stand on the first day of the Open race meeting on 13 November.
The final part of a £45m redevelopment at the course will house restaurants, bars and a new Royal Box.
The ground floor of the stand will house a new bar named after Lord Vestey, who was chairman of Cheltenham for 21 years until 2011.
A champagne bar on the first floor will be named after the horse Big Buck's, who won four World Hurdles at the Cheltenham Festival and a record 18 consecutive races.
Other projects, including a refurbished weighing room and a new first aid room, have been completed at the course over the past 19 months.
Ian Renton, from the Jockey Club, said: "Since we started the project in earnest immediately after The Festival in 2014, all of those involved in this new development have worked tirelessly to deliver such a fantastic new grandstand in readiness for this season.
"The feedback on those parts of the redevelopment that we have opened to date has been incredibly positive, and I am sure that those who experience all that the new stand has to offer over the coming months will agree that this is a stand of which Cheltenham and its racegoers can be really proud."
The new 6,500-capacity grandstand replaces an old building that was built in the 1920s.
A new grandstand at Cheltenham Racecourse will be opened next month, it has been announced.