The organizers also announced rising Jamaican star quarter-miler Jovan Francis and American Lashawn Merritt will be on show for the May 20 event.
Thompson, Jamaica’s Rio Olympic Games sprint double champion, will run the women’s 200m.
Jamaican Powell will start in the men’s 100m against American Mike Rodgers.
Canadian De Grasse, who won 200m silver and 100m bronze winner, at last summer’s Olympic Games, will face American Lashawn Merritt in the men’s half lap event.
Also announced to be in Kingston is American 24-year-old Kendra “Keni” Harrison, who ran a world record 12.20secs in the 100m hurdles, shortly after she failed to make the USA Olympic team last summer.
World and Olympic bronze medallist Shericka Jackson takes on fellow Jamaican Stephenie Ann McPherson in the 400m, while Olympic finalist Christania Williams will contest the 100m.