The Scot, who retired from racing last year, is joining forces with UK motorsport authority the MSA for the scheme.
The former Williams test driver said: "I knew I wanted to give something back when I stopped racing."
The scheme will start with motorsport, but there are plans to expand it into other male-dominated environments.
Wolf said: "I never set out to become a role model but somehow I did.
"The opportunities are out there. We aim to inspire female talent to ensure in the long term our sport is diverse."
It will be officially launched at the Autosport International Show at Birmingham's NEC on Thursday 14 January.
Wolff spent three years involved in test and development work at Williams, and took part in four practice sessions at grands prix over the 2014 and 2015 seasons.
Before that, she spent seven years driving for Mercedes in the German touring car championship (DTM).
Susie Wolff is launching an initiative aimed at increasing the number of women involved in motorsport.