Prince Haakon is one of five godparents selected by Estelle's parents Crown Princess Victoria and Prince Daniel, according to a statement from the Swedish Royal Court.
Prince Haakon is joined by Crown Princess Mary of Denmark, Prince Daniel's sister Anne Westling Söderblom, Crown Princess Victoria's younger brother Prince Carl-Philip, and Prince Willem-Alexander of the Netherlands.
The Swedish royal couple's first born is set to be baptised in the Royal Chapel in Stockholm around noon Tuesday and will be given the name Estelle Silvia Ewa Mary.
The Swedish and Norwegian royals are very close and Victoria and Haakon are described as good friends, having met regularly as children and having engaged in a number of joint projects in their roles as heirs to the respective Scandinavian thrones.
Crown Princess Victoria is furthermore godmother to the Crown Prince Haakon and Crown Princess Mette-Marit's eldest child and the heir to the throne of Norway, Princess Ingrid Alexandra.
Crown Princess Mette-Marit is however missing from the guest list in Stockholm on Tuesday due to a prior commitment in the USA.
To follow the royal events as they unfold visit The Local Sweden's live blog.