The former MP for Blackburn from 1979 spent 36 years working in Parliament.
The special event is taking place after the Bishop of Blackburn, Rt Revd Julian Henderson, invited the politician to deliver one of this year's William Temple Lectures in the North Transept of the Cathedral.
The annual talks tackle contemporary and ethical issues related to the Church and society.
Jack Straw said: "I am looking forward enormously to this opportunity to speak about my career serving the people of Blackburn in Parliament.
"For 36 years I had the privilege of representing the town at Westminster, serving in a variety of roles in opposition and in Government.
"This lecture will give me a chance to share some insights and reflections ... as well as telling some stories that I hope will amuse and entertain those who come to hebar me speak."
Cathedral Canon, Revd Dr Ian Stockton, organises the lectures and said: "The Rt Hon. Jack Straw has served his constituency of Blackburn and his country as a British politician of integrity, distinction and hard work.
"His honest and considered approach to politics has, for more than half a lifetime, helped many of his constituents and enriched our public life.
"The Bishop of Blackburn and the Cathedral wanted Jack Straw to have the opportunity to reflect on his 36 years as a parliamentarian and local MP.
"The Cathedral provides a space for Mr Straw to share his reflections with a wide audience. We have valued his continuing support for honest dialogue and our community cohesion work."
Jack Straw retired earlier this year, after serving in the in the Cabinet from 1997 to 2010. He was Home Secretary from 1997 until 2001 and Foreign Secretary from 2001 until 2006.
After the Labour Party lost power in May 2010, Mr Straw briefly served as Shadow Deputy Prime Minister and Shadow Justice Secretary.
The Dean of Blackburn, Very Revd Christopher Armstrong said: "Blackburn Cathedral is looking forward to hosting Jack Straw. I and my predecessors have worked closely with Jack over many years for the good of the town of Blackburn and so it is fitting Mr Straw has chosen the Cathedral for this important lecture."
Listen to Premier's Hannah Tooley speak to Very Revd Christopher Armstrong here:
