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In preparing for his countdown to his 40th birthday, Diddy is promising “the party of the century” to celebrate the four decades of his life on Thursday.

The party, which will be at the Plaza Hotel’s Grand Ballroom in NYC, will evoke a “fantasy dreamland” courtesy of event planner Bronson Van Wyck. Festivities will include a fashion installation, labyrinth, performance art and a display by “wizard of light” Bentley Meeker, who promises the lighting will become “dimmer and sexier,” punctuated by a “blizzard of light.”

Guests include Queen Latifah, Russell Simmons, Spike Lee, Zac Posen, Lil’ Kim and a “very special” musical guest.