Kent-born Walter Tull, who was promoted to the rank of Second Lieutenant despite a ban on black officers being given the status, died in battle in 1918.
The coin, featuring a portrait of the officer with a backdrop of soldiers going "over the top", will be one of a set of six £5 coins to remember the sacrifice made by so many during the war.
Other coins in the first set, released as part of a five-year programme, include depictions of troops leaving for France and those working on the Home Front. Subsequent issues will cover key battles and the stories of heroes, such as Walter Tull.
Shane Bissett, the Royal Mint's director of commemorative coin, medals and bullion, said the coins will capture "the emotive journey from outbreak to armistice".