Paul Sekhon of the United Taxi Workers Association of the GTA told CityNews's Breakfast Television on Wednesday that the group has obtained permits for the protest, which could stretch into the weekend.
He says participating taxi drivers will travel down Highway 427 to the Gardiner Expressway, onto Lake Shore Boulevard and around the Air Canada Centre.
The association came together last weekend as tensions between taxi drivers and the UberX ride-hailing service continue to escalate.
The taxi industry has staged many protests over the service, which it says is illegal.
Sekhon says the goal is to see UberX, which connects riders with drivers not licensed as taxis, banned in Toronto.
The city recently gave Uber a taxi brokerage licence for another of its services that connects riders with cab drivers through a mobile app.