The London Marathon became the first marathon to award equal prize money to wheelchair and non-disabled elite athletes in 2024.
Hug, the course record holder in London, said: “For me, it is more than a race. It is an organisation that has done so much to put wheelchair racing and us, as athletes, at the very heart of the event.
“It is for this reason that I am proud to have enjoyed the success I have here, and to be one win away from a legend like David Weir is incredible.”
The 40-year-old and Weir are long-time rivals, and the Briton finished runner-up to Switzerland’s Hug in their most recent head-to-head at last year’s New York City Marathon.
Weir’s eight London victories span 16 years, with his first coming in 2002. He finished sixth last year.
Rainbow-Cooper, the 2024 Boston Marathon champion, finished fourth last year and has further competition from previous champions Manuela Schar and Tatyana McFadden as she aims for the podium.