The project is a partnership with York Indian Cultural Association (YICA) and City of York Council.
“For the Hindus, Sikhs and Jains, Diwali marks the triumph of good over evil, light over darkness, happiness over sorrow, knowledge over ignorance, hope over despair,” said Mahendra Verma, chair of YICA and Hindu faith adviser.
“Members of the York Indian Cultural Association wish the citizens of York a Happy Diwali!”
Councillor Sonja Crisp said: “This light is a small step towards building greater understanding of the many faiths and cultures represented here in York.
“Diwali is a huge festival, worldwide, that brings people together in goodwill and celebration and we hope that this gesture adds to that.”
It is “another element of York’s cultural collaboration with Blackpool City Council”, York council said.
Cllr Crisp, cabinet member for leisure, culture and tourism, will join Mahendra Verma and other Hindu and Sikh faith advisers to officially switch on the light at 6.15pm on Friday (October 24).
Diwali is generally celebrated around Britain from Thursday, October 23, and the light will be kept lit until November 20 when the Christmas lights are illuminated.
YICA will be observing the festival of Diwali on Saturday, November 15 at York St John University to which all are invited to enjoy a cultural programme and a traditional Indian meal.
Tickets can be bought from the Holgate reception at York St John University.