"Daytona International Speedway has been privileged to have hosted several sitting presidents of the United States over our history", Wile said.
Denny Hamlin won the Daytona 500 previous year, while Austin Dillon claimed the victory in 2018.
The last president to attend the Daytona 500 was George W. Bush in 2004. Trump is the first to be given an honorary role in pre-race ceremonies.
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The U.S. Secret Service, the agency responsible for the president's security, also tweeted out that there will be a "No Drone Zone" in place during the race.
President Trump may be going to the races this weekend.
Trump has hosted previous NASCAR champions at the White House and last October awarded the Presidential Medal of Freedom to motorsports titan Roger Penske.
Verizon is partnering with Nascar ahead of the Daytona 500 race to modernise 12 Nascar-owned racetracks and bring race fans, drivers and teams improved connectivity. "I want to get out of this auto, '" Trump recalled. "They tell me it starts at a certain time, but you go when they tell you to put your helmet on", driver Kurt Busch said.