According to the statement issued late Sunday, Foreign Secretary Liz Truss will welcome counterparts from the US, France, Germany, Italy, Canada, Japan and the European Union (EU) from December 10-12.
The UK is holding the G7 Presidency in 2021 and this is the second in-person gathering of G7 Foreign Ministers this year, following May's meeting in London.
Countries from the Association of Southeast Asian Nations (ASEAN) will also attend the Summit for the first time.
Among the ASEAN Foreign Ministers due to attend are those from Malaysia, Thailand and Indonesia, which the Foreign Secretary visited earlier this month.
"This attendance builds on the May meeting, which included representatives from Australia, India, South Korea and South Africa. These nations collectively represent a broader geographic spread of countries committed to reforming and safeguarding the international order in which economies can flourish," said the statement.
The topics of discussion will include a wide range of global issues, including economic resilience post-Covid, global health and human rights.
The Summit in Liverpool comes after a series of global meets around the UK this year, including the COP climate summit in Glasgow earlier this month, and the G7 Leaders' Summit hosted by Prime Minister Boris Johnson in Carbis Bay, Cornwall, in June.
Liverpool has been chosen due to its history as an iconic port city with a global outlook, strong ties around the world, and a thriving cultural, musical and sporting heritage.
"The meeting of G7 Foreign and Development Ministers in Liverpool next month is a fantastic opportunity to showcase the city to the world, highlighting the best of British culture, commerce and creativity," Foreign Secretary Truss was quoted as saying in the statement.
"I will be hosting our friends and partners to discuss how we build closer economic, technology and security ties globally and deliver for the British people. I want us to build a worldwide network of liberty that advances freedom, democracy and enterprise and encourages like-minded countries to work together from a position of strength."
Mayor of Liverpool, Joanne Anderson, said: "Liverpool is proud to have been chosen to host this global event on behalf of the UK government.
"We are a fitting choice given our cultural significance, musical importance and sporting greatness which attracts visitors from around the world, as well as our scientific and architectural innovation."