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Over the course of a month, there will be more than 2,000 tournaments playing around the world for 720 hours non-stop.
FIDE is joining with online chess websites chess.com, lichess.org, chess24.com, and FIDE Online Arena to hold the online competitions.
There will be more than 80 daily tournaments, open to people around the world.
Running from May 18 to June 16, the competition also includes more than 1,500 prizes will all participants eligible for the prize draw, regardless of their score or level of play in the tournaments.
The top prizes include 64 one-week invitations to attend the 2021 Chess Olympiad in Moscow.
FIDE President Arkady Dvorkovich said: "On a chess board, two kingdoms face each other in a battle where only one side can win, but in real life chess is a game that unites us, makes us feel like one family, one community, one planet.
"Stay safe and play chess, I hope to meet the lucky ones next summer at the Chess Olympiad 2021 in Moscow."