The boys - Harry Styles, Niall Horan, Zayn Malik, Liam Payne and Louis Tomlinson - shared their exciting news earlier today (2 October) and explained that they had found a unique way to give back to their millions of dedicated fans across the world.
Coming up with the concept of a whole day dedicated to all things One Direction, the group revealed that as well as a seven hour live streaming session, fans will be treated to appearances from special celebrity guests and have the opportunity to get involved with the day themselves by suggesting ideas and creating videos.
In today's video announcement, Harry, Niall, Louis, Liam and Zayn can be seen stood against a white backdrop while they giggle their way through a rehearsed speech.
Liam says: "We've had such an amazing three years and we couldn't have done it without you guys, so we put all our heads together and came up with the idea of 1D Day."
The official 1D Day website explains: "1D Day is an exciting opportunity for everyone everywhere to take part in a unique global event, providing an exclusive insight into the lives of One Direction - and the people around them.
"1D Day will consist of a seven hour stream, filmed live from a television studio and comprising a whole host of special features, celebrity guests and content created by you."
The band also appear to be setting their fans challenges in the run up to 23 November, with the first being to think of a new One Direction invention!
What do you think of the idea of a 1D Day? Let us know below, as the best comment each week wins £50!