The Grand has commissioned Ian McFarlane, who hails from Preston, as its first writer and director to create the musical show, which is based on Jules Verne’s acclaimed novel and will be packed with favourite 1980s hits.
It will be the first summer show to be produced by the theatre's new production company, Blackpool Grand Productions Ltd.
Ian said: "As this is the theatre’s 125th birthday, it seemed like the right time to do it.
‘The theatre has a tradition of music shows during the summer period, the idea was to give the audience something extra special.
"As always, it’s going to be a show that you can expect to know lots of the songs from, but we’ve tried to step it up a gear."
Around The World in 80s Days will have a special preview week from Wednesday, July 31 to Saturday, August 3 where all seats are £10.
The show will officially open on Wednesday, August 7 and will run until Saturday, August 31.
Ian added: "There is a story, but we use the 1980s music to tell it - sometimes in ways that you might not expect, sometimes in ways that will make you laugh but always in a way in which you are
going to have a brilliant night out.
"One of the most beloved adventure stories ever written opens at Blackpool’s Grand Theatre with an exciting twist!"
Around The World in 80s Days tells the story of wealthy British gentleman Phileas Fogg, as he accepts a bet for half his fortune to prove it really is possible to travel around the world in 80 days.
Fogg and his valet set off on a thrilling race against time - outwitting dastardly villains, escaping perilous locales and finding themselves in hilarious situations in this high-octane comedy musical, mixed with favourite chart hits from the 1980s.
Songs will include Gold, Don’t You Want Me?, Loveshack, Take On Me, Locomotion, and Come On Eileen.
Ruth Eastwood, Grand Theatre chief executive, said:"As Ian McFarlane hails from Preston and spent many happy times here in Blackpool, visiting the Grand Theatre with his mum and even performing in local productions, it’s great to welcome back a professional writer and director to create a really fun and entertaining Blackpool summer show.
"The whole team is very excited to be working on this new adventure, it will give us the chance to learn new skills and enjoy the roller-coaster of producing a new work."
Around The World in 80s Days will have a special preview week from Wednesday, July 31 to Saturday, August 3 where all seats are just £10.
The show will officially run from Wednesday, August 7 and until Saturday, August 31 at the following times: Wednesdays at 2pm, Thursdays at 2pm and 7.30pm, Fridays at 7.30pm, Saturday and Sundays at 2pm and 7.30pm.
Tickets are £19 to £26 and all matinees seats are £21. There will be a concession of £3 off, excluding preview performances.
Under 18s are £12.50 and group discounts are available.
To book tickets call (01253) 290190, visit www.blackpoolgrand.co.uk, or visit the theatre on Church Street, Blackpool.