Royal officials told the BBC that the Queen chose to ask her eldest son and heir to carry out the royal duty.
It will be the second time the Prince of Wales has laid the wreath, after standing in for the Queen when she was on a trip to Kenya 34 years ago.
A Buckingham Palace spokeswoman added: “The Queen wishes to be alongside the Duke of Edinburgh and he will be in the balcony.”
BBC Royal correspondent Peter Hunt said the change was “another sign of the Royal Family in transition”, as well as “an acknowledgment of the fact the Queen is 91.”
BBC News regarding The Queen choosing not to lay a wreath at this year’s service of remembrance at the cenotaph.