Cpl Stuart Robinson was injured when his vehicle hit an explosive device near Camp Bastion in February 2013.
He will be joined on the 38 mile (60km) course by former colleague Kurt McGuinness, the brother of 23-time TT winner John McGuinness.
The 33-year-old said the challenge had been a "lifesaver" for him.
He said that after the "life changing situation... I just had to get on with it. I lost my legs but got away with my life".
"Kurt is really into the Isle of Man TT and suggested the challenge."
The pair will be joined on the charity challenge by Blackburn's Anton Shepherd, who was paralysed from the chest down following a motocross accident, and soldier Darren Norman.
Mr McGuinness said their training for the attempt, which will take place on 26 March, had been "brutal".
A former soldier who lost both legs in Afghanistan is to attempt the Isle of Man TT course using a hand-powered bike.