The monument will be located in Keene, site of the headquarters of the United Farm Workers Union, known as La Paz, and the place where Chavez is buried.
"This reminds Americans from all walks of life that Latinos and farmworkers and immigrants are an important part of this country's story, this country's history," said Paul Chavez, son of the late labor leader.
Cesar Chavez was the co-founder of the United Farm Workers Union, which gained national and international attention to get collective bargaining rights for farmworkers through nonviolent means.
The White House said the president will fly into Bakersfield's Meadows Field Airport in the morning for a brief midday ceremony in Keene, about 30 miles east of the city.
The UFW was overwhelmed by requests from the public to attend the ceremony and said Friday that it has closed registration for the event.
Obama is scheduled to leave Kern County in the early afternoon.
Neither Caltrans nor the California Highway Patrol have announced any road closures that day. Airport officials said Obama's visit will force the temporary closure of several access roads to Meadows Field: Merle Haggard at Pegasus, Airport Drive, Boughton and Skyway.