It will stock more than 400 whiskies, including some of the most exclusive bottles in the world.
A Royal Salute Tribute to Honour – of which there are only 21 bottles in the world – will be displayed in a diamond-encrusted box created by the Royal Family’s jeweller Garrard.
The Dalmore Constellation Collection, priced at £158,000, features 21 individual expressions of some of the world’s rarest single malts created at the Highland Distillery between the years 1964 and 1992.
Managing director Andrew Torrance said: “This is a very exciting development and we believe that whisky deserves to have this platform.
“We want to offer customers a very different retailing experience that is both accessible and can serve the needs of the most discerning whisky customer.
“The new store reflects the continuing success story of whisky and will combine prestigious and super premium whisky offerings with the high service standards that customers have come to expect from The Whisky Shop.”
The new store, which takes the number of Whisky Shops in the UK to 21, will also include an “information bar” that uses iPad technology to help customers understand Scotch.
Pernod Ricard and Whyte & Mackay will have displays in the shop.
Simon van Moppes, commercial director at Pernod Ricard UK, said: “We are very pleased to be associated with The Whisky Shop and the new opening at 70 Piccadilly.
“We believe strongly that our partnership with The Whisky Shop will provide an unrivalled retail experience where consumers can really engage with whisky in the heart of the capital.
“Premium whisky is enjoying growth and this is the perfect environment to showcase our brands like Chivas, The Glenlivet and Royal Salute.”
David Brown, Whyte & Mackay sales director, added: “The Piccadilly store will be a must visit destination for all whisky lovers. Everything from the store layout to the consumer interaction provided by the knowledgeable staff and interactive tasting displays, really sets a high standard for whisky retailing.”