Cafe Football will open its doors to the public at Westfield, Stratford following the launch of the duo's eaterie and hotel brand in July of this year.
The restaurant is expected to feature a number of options on the menu, including gourmet chicken, fish pie and their own Cafe Football burger.
"We want it to be the place where guests can enjoy themselves while eating classic football dishes with a modern twist," Giggs told the London Evening Standard.
"There is a real sense of community within fans and we want that fun atmosphere to spread to Cafe Football. It will be a place that reflects the spirit of fans coming together after a match."
Neville added: "Opening a restaurant is a huge step away from our lives on the pitch, but we are going to apply the same levels of enthusiasm and passion to make Cafe Football a success."
Prices will range from £5.95 for a starter to £20 for a sirloin steak.