"The hour record is a holy grail for cyclists. It's been fought over tooth and nail by some of the greatest names in our sport for over a hundred years and it's time for me to have a crack at it."
Wiggins intends to take a shot at what he describes as cycling's holy grail on 7 June at London's Olympic Velodrome.
Australian cyclist Rohan Dennis is the world hour record-holder, completing 52.491km on the track on February 8 in Granges, Switzerland.
The 24-year-old winner of the Tour Down Under broke the previous mark of 51.852km set by Austrian Mathias Brandle last October in Aigle, Switzerland.
Wiggins, who finished his Team Sky career at Paris-Roubaix last Sunday, said: "The hour record is a holy grail for cyclists.
"It's been fought over tooth and nail by some of the greatest names in our sport for over a hundred years and it's time for me to have a crack at it."
Wiggins, who turns 35 on 28 April, added: "I like the idea of challenging myself and want to motivate people to do the same - so why not get your bike out of the shed and see how far you can go in an hour?"
The British cycling legend will ride in next month's inaugural Tour de Yorkshire before preparing for the hour as part of his return to the track.
The world time trial champion is targeting a British record eighth Olympic medal - he has four gold, one silver and two bronze - at the 2016 Rio Olympics in the four-man, 4km team pursuit.
Dennis' mark will come under threat from Briton Alex Dowsett, who will make his attempt on 2 May in Manchester, having had to postpone it previously after suffering a broken collarbone.