The talk show host will be shown talking to the American household name in the intimate setting of his family home during his first televised interview in 20 years.
A statement on Oprah.com says: "He's defined American style for more than 40 years.
"For the first time, designer Ralph Lauren allows cameras inside for a look at his family's Rocky Mountain retreat."
The one-hour programme will show the pair taking a ride in Ralph's vintage 1940s jeep before the cameras are given a tour of the property, which, according to makers of the show, will be "sure to make television viewers feel as though they have stepped inside a Ralph Lauren advertisement with the breathtaking views of the mountains of Telluride as the backdrop."
The interview will be one of Oprah's final ones as she plans to retire from her show after this season.