The demonstration - called "Stand with Salman" - is organized by the American PEN, among others, and is an act of solidarity with Rushdie, who was attacked and stabbed on stage last week.
Among the authors participating are Paul Auster, Kiran Desai and Siri Hustvedt.
The reading will take place outside the New York City Library and is reminiscent of a similar manifestation that took place in 1989, when writers read from Rushdie's book "The Satanic Verses".
It happened after Iran's then-spiritual leader Ayatollah Ruhollah Khomeini issued a fatwa against Rushdie, who has since lived under death threats.
The 75-year-old Salman Rushdie was injured in, among other things, his liver and an eye in Friday's attack, according to his agent.
He is still being treated in hospital.
A 24-year-old man was arrested at the scene.