Shown as a world premiere in the out of competition Midnight section, the screening will also be in celebration of the 25th anniversary of the classic sci-fi, cyber punk noir's original release of 1982.
Three time best director Oscar nominee Ridely Scott has made significant changes and updates to the original for this new version to be revealed on Sept 1 at midnight where the director will be on hand to present the film himself.
The restored, re-mastered film scanned at 4K resolution features previously unreleased and extended scenes, new improved special effects with a Dolby Digital 5.1 audio track.
After the Venice screening the film will be given a limited release in Los Angeles and New York theaters and be released on DVD by Warner Home Video on Dec 18.
In other Venice news, groups outside Venice Film Festival's official structures are adding two new prizes this year for a total of 29 collateral prizes.
The two new prizes are the Father Nazzereno Taddei recognition to be handed out by the International center for entertainment and social communication and the magazine Edav. The prize will be given to the film in competition that 'best expresses the authentic human values with cinematographic language.' Jury head is Gian Luigi Rondi who is also head of the David of Donatello association, which manages the Donatello awards, Italy's top film prize.
The second new collateral prize is the Queer Lion that will be handed out by Italy's Archigay and CinemaArte associations. A five-member jury will give a prize in 'recognition of the best work with a gay theme.'
All collateral prizes are given out in their own ceremony on the Festival's closing day.