The exact amount Anunoby has pledged to give will not be disclosed for privacy reasons, the BBC has been told.
He will partner with several other organisations and public bodies which will also fund the renovation.
City Hall said it would invest £50,000 in the court. The National Basketball Players’ Association (NBPA) is due to invest $20,000 (approximately £14,872).
Camden Council will spend £317,000 on both the court and improvement of the wider Argyle Square Gardens.
Last year, City Hall pledged £1.9m to grow the game of basketball in London, including £500,000 to improve 10 courts across the capital.
Although several of the renovated courts have included further partners, most courts will see around £50,000.
Sagal Abdi-Wali, leader of Camden Council, said: “Argyle Square Basketball Court has the potential to be a renowned basketball hub not just for Camden but also for London, as one of the most central courts in the capital.
“Our mission is to honour its legacy and build for the future of the court and its players.
“With the legend that is OG Anunoby on board, this project is destined to be a slam-dunk.”
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