The W14 E Performance, which the team claims has been "forged from the challenges of the testing 2022 campaign", will break cover at a special digital launch event to be broadcast live from Silverstone on February 15.
Mercedes state the new car "builds on the lessons learned from last year, which forced the team to confront and overcome numerous challenges with the W13".
The unveiling will be available to fans to watch live via the team's social media channels.
Mercedes will be hoping for a far better campaign than last season when it initially struggled with the W13 following the introduction of new aerodynamic regulations.
The car suffered from the phenomenon known as porpoising which resulted in months of development to eradicate.
Mercedes made progress, scoring a one-two finish in the penultimate race of 2022 in São Paulo, with Russell claiming the only grand prix victory of a tough campaign.
Hamilton, in particular, ended a season without a win for the first time in his career.
The aim now with the W14 is build on the foundations laid at the end of last season and provide a more robust title challenge to Red Bull and Ferrari this term.