The BFR is SpaceX's next generation spacecraft and launch vehicle system, set to be used along with the company's current suite of hardware like the Falcon 9 and Falcon Heavy.
Mr Musk shelved a similar project to send two customers into.
On Thursday, Musk tweeted a picture of a Japanese flag.
It's worth remembering that even a rocket beginning integrated systems tests - expected to commence with BFR as early as late 2019 - can end up looking and being nearly nothing like the vehicle that ultimately rolls off the assembly line and launches real missions.
He revealed he purchased all available seats for the BFR lunar mission and plans to invite six to eight artists from around the world to go with him.
SpaceX says it will identify the adventurous traveler Monday who will become the first person to travel to the moon since 1972 - although the trip won't include an actual landing.
In typical fashion for any company owned by Elon Musk, they've made a decision to do so by blasting a single person - the world's first private passenger, around the moon and back to test the rocket's capability for far space travel. Maezawa came to SpaceX with the idea for the group flight, Musk said.
Who will fly with the mystery passenger is among the many questions that Musk is likely to address during the announcement.
He said the BFR is still in development and will make several unmanned test launches before it takes on passengers. While the trip to the moon is, in and of itself, a fairly bold undertaking, realistically it's just the first step towards Musk's ultimate goal of being the person that facilitated humanity's move to living on two separate planets.
The amount Maezawa is paying for the trip was not disclosed, however, Musk said the businessman outlaid a significant deposit and will have a material impact on the cost of developing the BFR. SpaceX touted it as "the most powerful rocket in history, capable of carrying humans to the Moon, Mars, and beyond".
The average distance from Earth to the moon is about 382,500kms. That mission was to use SpaceX's Dragon capsule and Falcon Heavy rocket.
Amazon.com founder Jeff Bezos' Blue Origin and Richard Branson's Virgin Galactic are also battling it out to launch private-sector spacecraft, but neither have so far announced pkans as ambitious as SpaceX.
BFR will inevitably borrow heavily from almost a decade of designing, building, testing, launching, and upgrading 60+ Falcon 9 and Heavy rockets, all successes and failures included. A 90-minute flight costs $250,000.
- Amy Sherman-Palladino makes history with Emmy wins
- Oscars Director Glenn Weiss Proposes to Girlfriend at the Emmys
- You've been saying Chrissy Teigen's name wrong
- Pictures show before and after flooding in North Carolina
- Dwyane Wade Announced He'll Return To The Heat For 'One Last Dance'
- Trump's $200 billion China threat wobbles European, hurts Asian stocks
- Apple's iOS12 Releases Today: What You Need To Know
- Brett Kavanaugh willing to 'refute' sexual assault allegation before Senate panel
- Jeff Flake: Kavanaugh Accuser 'Must Be Heard'
- Gunmen wearing mariachi garb kill 5, wound 8 in Mexico City