The annual event which is sponsored by River Island has historically attracted a prestigious array of judges including Alber Elbaz and Victoria Beckham.
This year Schiffer will join the panel which will also include members of the River Island management team. Graduate Fashion Week will award one student designer a prize worth £20,000.
Schiffer said: "The passion and energy that surrounds this creative world are addictive and to take part in supporting the birth of new talent is fantastic. I have always believed that the UK has a unique energy. It’s such a melting pot of new ideas, with an influence that is so far reaching, I am never surprised to hear so many English accents in design studios all over the world."
Graduate Fashion Week will take place June 8-12 and has been moved from Battersea to the larger Earls Court 2 venue in London this year. Graduate Fashion Week will exhibit the work of 1,000 BA Honours fashion students from 49 member universities across the UK.