Actor Ewan McGregor, singer James Blunt, comedian Al Murray, and reality TV stars the Osbournes are among those backing the scheme.
The campaign is dedicated to supporting British Forces personnel and those who have served their country and suffered as a result.
Sir Michael found fame following his performance as an upper-class British army officer in the 1964 film Zulu.
The much-loved film charts the battle of Rorke's Drift between the British Army and the Zulus.
Sir Michael is donating two signed Zulu film posters to the auction.
Sir Michael said: "My thoughts and best wishes are always with them because I used to be, and always will be, one of them."
Five British Forces charities have been selected as beneficiaries of the Big Salute - Blesma (The British Limbless Ex-Service Men's Association); Combat Stress; Headley Court; Veterans' Aid, which helps homeless ex-servicemen, and St Dunstan's, which helps Service personnel with sight loss.
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