Diana Ross and George Ezra will headline a star-studded concert later at Buckingham Palace marking the Queen's 70 years on the throne.
The Party at the Palace on Saturday evening will also see Prince Charles and Prince William making speeches to pay tribute to the Queen.
Members of the Royal Family are taking part in celebrations around the UK today - in Cardiff and Belfast.
The Queen is not expected to attend the gig. Coverage starts at 19:30 BST.
The Queen has been experiencing mobility problems in recent months and the palace had warned in advance that the monarch would consider which jubilee events she felt able to attend.
She had to pull out of Friday's jubilee thanksgiving service after experiencing "discomfort" during Thursday's events, reports BBC.
She was also not at the Derby meeting at Epsom on Saturday afternoon but Princess Anne has been at the racecourse. She arrived to cheers as part of a procession with her husband and family.
Zara Tindall, the Queen's granddaughter, said they would have loved the 96-year-old monarch to be with them at Epsom but said the Queen would be watching the Derby - which was won by Desert Crown - at home at Windsor Castle.
"She will be watching on the TV - she has a few runners today dotted around the country, so she knows exactly what's going on," she said.
"She'll just be sat on the sofa watching the TV. She'll be in her comfy clothes."
The concert tonight - broadcast live on BBC One - will take place in front of Buckingham Palace, with an expected crowd of about 22,000, plus millions watching on TV.
The line-up also includes Alicia Keys, Eurovision runner-up Sam Ryder, Hans Zimmer and Queen and Adam Lambert.
Stars including broadcaster Sir David Attenborough, tennis player Emma Raducanu, former footballer David Beckham and comedian and writer Stephen Fry will also feature, and there will be a specially-recorded performance from Sir Elton John.
Ryder said he was on the way home from the Eurovision Song Contest in Italy last month when he heard he might be invited to perform at the Jubilee concert.
"To be part of something like this means so much," he told the BBC.
"There seems to be a stirring of the soul. Everyone's together, everyone's smiling, the vibe in London today and the last few days has been electric, it's just so happy."
Disco legend Nile Rodgers told the BBC he was expecting an "incredibly festive" atmosphere.
"I've been playing in the UK since the early 1970s and I don't think I've ever seen the country this happy and zhuzhed up and decorated. I expect the concert to be completely out of control," he said.
The Queen may not have been at Epsom but 40 retired and current jockeys who have ridden for her have formed a guard of honour to honour her 70 years on the throne.
The jockeys dressed in her distinctive purple, gold and red racing silks, and the Queen's Stand will be permanently renamed the Queen Elizabeth II Stand.
Among those taking part were Frankie Dettori, Sir Anthony McCoy and Willie Carson, while Steve Cauthen, who won the Derby three times and was a regular in the Queen's silks in the 1980s, flew in from the US to be part of the parade.
"It was an honour to be invited over here for the Queen's Platinum Jubilee celebrations," Cauthen said.
"I'm was looking forward to this ever since I received the invite. It is such a thrill to be here with all these great jockeys. It was always an honour to ride for Her Majesty The Queen and to celebrate her in this way is wonderful."
Five of the monarch's former racehorses were also paraded before the day's racing began.
New unseen footage showing the Queen's affection for horses will be broadcast as part of ITV's coverage of the Jubilee celebrations - including clips showing her caring for some of the animals and speaking affectionately to them.
Thoroughbreds owned by the Queen have won four out of the five flat racing classics, with only the Derby eluding her.
Members of the Royal Family are attending Platinum Jubilee celebrations across the UK during the day. Before speaking at the Party at the Palace, Prince William is in Cardiff with the Duchess of Cambridge and two of their children, Prince George and Princess Charlotte.
The family arrived at Cardiff Castle to meet the performers and crew involved in a special Platinum Jubilee Celebration Concert taking place in the grounds on Saturday afternoon.
They are due to watch rehearsals and meet some of the acts taking part, including Welsh singer Bonnie Tyler, who a few days ago was made an MBE in the Queen's birthday honours list.
The Earl and Countess of Wessex have been carrying out two engagements in Northern Ireland. Prince Edward - the Queen's youngest son - and his wife Sophie have been to Belfast where they met children taking part in multicultural street performances, joined in with art and craft sessions, and spoke to people sharing their personal memories of meeting the Queen.
And on the beachfront in Bangor, County Down, which has been awarded city status, the royal couple joined members of the public at a vintage seaside funfair.
On Friday, Princess Anne visited Edinburgh Zoo to feed penguins and learn about caring for wildlife.
Events taking place in Scotland on Saturday to mark the jubilee included a gathering of 70 corgis - the Queen's favourite dogs - and their owners at Balmoral Castle and a group of children in Kelso re-enacting the Queen's 1953 coronation.
Saturday is also the first birthday of Prince Harry and Meghan's daughter Lilibet, who travelled with her parents and older brother Archie for her first visit to the UK.
The Royal Family Twitter account posted a balloon emoji and the message: "Wishing Lilibet a very Happy 1st Birthday!"
It's thought this trip is the first time the Queen will have met Lilibet, who is named after her.
In Australia, where the Queen is also head of state, a small island she visited more than 50 years ago has been renamed in her honour.
And it has been revealed the Queen held a virtual call with the six Australians of Year - including a recently-retired wheelchair tennis champion, a doctor who has started a service treating homeless people and the country's governor-general. She commended them on their "marvellous work".