It will be the first major investiture to be staged at the Queen’s London residence since the start of the pandemic, more than two years ago.
British pop star and TV personality Mel B, whose real name is Melanie Brown, will be honoured at the ceremony on Wednesday.
The 46-year-old, who rose to prominence as Scary Spice in pop group the Spice Girls during the 1990s with chart-topping hits such as Wannabe and Spice Up Your Life, became a patron of the charity Women’s Aid in 2018.
She was made an MBE in the 2022 New Year Honours list for services to charitable causes and vulnerable women.
Watford Football Club manager Hodgson, 74, who was England boss during a four-year stint from 2012 to 2016, will also receive his honour.
Hodgson was made a CBE in the 2021 Queen’s Birthday Honours list for services to football.
Paralympians Chris Ryan and Thomas Young will also be honoured at the ceremony.
Mayo, 63, joined the BBC in 1982 and has since worked for BBC Radio 1, BBC Radio 5 Live and BBC Radio 2.
The presenter, who has also written six novels and hosted a critically acclaimed film review show with Mark Kermode, was made an MBE in the 2021 Queen’s Birthday Honours list for his service to broadcasting and charity.
Meanwhile, Wilson, 40, who has starred in hit TV series such as The Affair and Luther and won two Olivier awards, will also be honoured on Wednesday.
The actress was made an MBE in the 2021 Queen’s Birthday Honours list for services to drama.
She will be joined by wheelchair rugby player Ryan, 30, who was part of the GB team that won gold at the Tokyo Paralympics in 2021.
He was made an MBE for services to wheelchair rugby in the 2022 New Year Honours list.
Fellow Paralympian Young, who won the gold medal in the men’s 100 metres T38 event in Tokyo, will receive his award as well.
The 21-year-old was also made an MBE in the 2022 New Year Honours list for services to athletics.
The last investiture at the palace was on March 12 2020 just before the first lockdown, and was conducted by the Prince of Wales who opted for a namaste as he greeted recipients in a bid to reduce the spread of Covid-19.
A week earlier, the Queen had chosen to wear long white gloves as she carried out an investiture.
The Palace has been undergoing a 10-year £369 million renovation project to update the essential services in the historic building, but work has been phased for the Platinum Jubilee celebrations.
A Buckingham Palace spokesperson said: “The Reservicing Programme has been phased to allow for key events to be delivered at Buckingham Palace throughout the Platinum Jubilee celebrations, including investitures in the State Rooms, and Garden Parties.”
Investitures will continue to take place at both Windsor Castle and Buckingham Palace over the summer.
The change does not represent a permanent return to investitures at the Palace because the building project is yet to be completed.