Dennis, 24 and winner of the recent Tour Down Under, will be aiming to overhaul the 51.852km covered in 60 minutes last October by Matthias Brändle of Austria, also in Switzerland, at Aigle.
Brändle beat the previous best of 51.115km set the previous month in Granges, by Jens Voigt of Germany.
Dennis, world pursuit champion in 2011 and Olympic silver medallist in London with the Australian pursuit team, is the first man this year to attack the record.
Britain's Olympic time trial champion and former Tour de France winner Bradley Wiggins has already announced he plans a record attempt later in the year.