Streep, 70, has never made an appearance at the annual event at the Metropolitan Museum of Art. This will change next year as she has been announced as one of the hosts of the event, reports pagesix.com.
Streep will serve as co-chair of the 2020 gala alongside Stone and fellow first-timer Miranda, as well as fashion designer Nicolas Ghesquiere of Louis Vuitton.
The French fashion brand will also be sponsoring the event, which will be held on May 4.
Anna Wintour will serve as the perennial chairwoman of the event, a title she has held since 1995.
While past themes have explored the concepts of camp, punk, Catholicism and more, the theme for next year's gala is "About Time: Fashion and Duration" under which attendees will "explore how clothes generate temporal associations that conflate past, present and future" by utilising Henri Bergson's concept of la duree.
Virginia Woolf will serve as the "ghost narrator" of the exhibition, with quotes from her time-based books including "Orlando", "Mrs. Dalloway" and "To the Lighthouse" appearing throughout the exhibition.
The gala will use a timeline of monochromatic black ensembles to chronicle "the progressive timescale of modernity" and demonstrate "the fast, fleeting rhythm of fashion". The exhibition will conclude with a section on the future of fashion.
( With inputs from IANS )