The 'Come Pick Me Up' singer is set to front an all-star line-up of musicians, joined by producer Don Was, who mixed the record's re-release in 2010.
Was - who also produced the 'Satisfaction' rockers' first seven studio LPs - has planned the 'Exile on Bourbon St' tribute, which will see the album performed live in its entirety.
He said: ''I've listened to all the multi-track tapes from the EXILE period and it's not hyperbolic to say that this is probably the greatest rock 'n roll ever recorded.
''I can't wait to dig deep into these songs with The Mighty Ryan Adams and this incredible group of musicians.''
'Exile on Main St.' was released by the Stones - which was made up of Sir Mick Jagger, Keith Richards, Bill Wyman, Charlie Watts and Mick Taylor at the time - in 1972 as a double album, and is regarded as one of the greatest records of all time.
The concert will be held at the New Orleans Saenger Theatre on May 5.
For Adams, covering entire albums isn't anything new, after he completely re-recorded Taylor Swift's hugely popular '1989' LP and put his own unique twist on tracks like 'Shake It Off' and 'Blank Space'.
He did so because he was fascinated by her writing process, and he also found the lyrics struck a chord when he was going through a divorce from 'Candy' hitmaker Mandy Moore.
The musician previously said: ''Taylor is my friend - she and I had recorded a song together that no one's ever heard - and I wanted to know how far she went from acoustic to her finished songs.
''I wanted to break it back down to the acoustic. It took five or six days and never stopped being fun.
''Plus it was kind of cathartic because her words were actually matching s**t I was going through.''
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James Righton's latest album is well-produced, well-arranged and put together very proficiently and professionally.