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The 17-year-old will race for Hitech in support of the Formula 1 British Grand Prix in the car usually occupied by Martinius Stenshorne.
The Norwegian driver has been suspended for the forthcoming weekend after he competed in the April round of the GB3 series at the venue.
That was a breach of the Formula 3 sporting regulations, which require approval for a driver to compete in a serious outside of F3.
Announced in May, the FIA revealed that, had approval been requested, it would have been approved. However, since no request was made, there was no choice but to suspend Stenshorne.
The decision has opened the door for Wharton to make his debut in the F1 feeder category.
Formerly a member of the Ferrari Academy, he currently sits sixth in the Formula Regional European Championship, having recorded two third-place finishes from the eight races this season.
Last year, he campaigned in both the Italian F4 and Euro 4 championships, winning two races en route to fourth in the former, and two further races in the latter to end the season second.
“I can’t thank Hitech Grand Prix enough for the opportunity and for trusting me to take the wheel this weekend at Silverstone,” said Wharton.
“This is the biggest opportunity I’ve had in my career so far.
“It’s going to be a challenging weekend, but I can’t wait to show what I can do.”
Wharton’s appearance will make for three Australians on the grid.
He’ll join Christian Mansell, who recorded a second and a fourth in Austria last weekend, and Tommy Smith.
The championship is currently led by Williams F1 junior Luke Browning, who drives for Hitech.
