The free event aims to promote opposition to racism, following the recent attacks on Romanian families in Belfast and will take place in the Courtyard of Foyle Street's One World Centre.
The line-up for the festival includes many stars of the local music scene, including Our Krypton Son (who will headline the Saturday electric sessions), Future Chaser and Andrew Ferris (from Jetplane Landing) and Jonny Black (from LaFaro) who are playing the Sunday afternoon acoustic sessions.
Among those also lined up to perform are The Free Radicals, Skruff, Inexistence, Connor Kelly, Junior Johnson, Tin Pot Operation and a whole host more.
David McAuley, from LMHR, said: "We wanted to get this festival together at short notice to send a message that people are opposed to the sort of racist attacks we saw against the Roma people in Belfast in recent weeks.
"There is an undercurrent of racism in this town as well, and attacks on people and their homes are on the increase, as they are across Northern Ireland."
"Love Music, Hate Racism is about defying the people who would try to divide us. They skulk around in the middle of the night. We are open and strong that we are against racism, in all its forms, and we want the racists to know they are cowards who should be ashamed.
"We want our city to be proud that we welcome migrants, and celebrate everyone who lives here, regardless of where they are from. Now is the time to step up a gear and promote this message."
Organisers said they had been "taken aback" at the enthusiasm of all the musicians who agreed to play at short notice for this worthwhile event.
Admission to the festival is free, and it is an alcohol free event. The Love Music Hate Racism Festival is also supported by Derry City Council and Homely Planet.

Festival running order:

Saturday, July 4 -
'The Electric Sessions' (1-5pm)
Our Krypton Son
Future Chaser
Chipzel
Inexistence
Connor Kelly
The Free Radicals
Under Stars and Gutters
Sullem Voe
DJ Stephen McCauley & Dee Dee McAuley
DJ Singh Bangla and DJ Elly

Sunday, July 5 -
'The Acoustic Sessions' (1-5pm)
Andrew Ferris (Jetplane Landing)
Jonny Black (LaFaro)
Skruff
Junior Johnson
Tin Pot Operation
Jonny Nixon
Paddy Nash
Christopher Norby
plus poets and spoken word
DJs Kwame and Danny McGeady