Formally known as the European Union (Withdrawal) Bill, the draft legislation is a key plank of the government's Brexit strategy.
It will repeal the European Communities Act 1972 which took Britain into the EU and remove the supremacy of Brussels law, convert EU law into UK law and create temporary powers to correct laws that will not operate appropriately after Brexit.
It is not expected to be debated until later this year, but it will have to pass by the time the UK leaves the EU, March 2019, the BBC reported.
"It is one of the most significant pieces of legislation that has ever passed through Parliament and is a major milestone in the process of our withdrawal from the European Union," the BBC quoted Davis as saying.
Besides the Repeal Bill, the government will also publish three position papers for exit negotiations.
One will cover nuclear materials and safeguards issues while the other two papers will cover ongoing judicial and administrative proceedings along with privileges and immunities.