Paul Tergat is the world half marathon record holder
But race organiser Peter Elliott has played down the fact that the presence of the pair will see a joint attack on the one-hour barrier being breached for the first time in the UK.
"That is said almost every year but it still has to happen," said the former Commonwealth 1,500 metres champion.
Yet the Yorkshireman himself admits surprise that the current UK All-Comers' record - held by Kenya's 1994 Great North Run winner Benson Masya in 60mins 02secs - has survived for so long.
Khannouchi, the marathon record holder, agreed to the race before Christmas.
The naturalised American - he renounced his Moroccan citizenship last year - will now face stiff competition from Tergat after the Kenyan put his name to the race on Monday.
The Kenyan, whose three-year-old half-marathon world record stands at 59mins 17secs, makes no secret of the fact that he feels he can produce the goods.
"Obviously Paul himself is concentrating on the marathon as a natural progressive step-up in his career," Elliott said.
"But there's no way he'll ever lose his zest and enthusiasm for the half marathon where he won the world title for the second successive time last year.
"Khalid may be renowned for setting his world marathon record of 2hrs 05mins 42sec in 1999. But he also has a sub-60 pedigree for the half and will prove to be a more than able opponent.
"Let's also not forget I still have plenty of time to fetch other big names to the start line.
"But can I stress I would rather see a good exciting race than just a couple of the entrants chasing a record time. Ideally of course, it would be great if we got both."
The race, over 13.1 miles, takes place in South Shields on 16 September three weeks before the IAAF World Half Marathon Championships in Bristol.