The session will reportedly focus on Bannon's involvement during the campaign period.
Bannon attempted to walk back from the remarks, telling the Axios news website that "Donald Trump Jr.is both a patriot and a good man", but the closest he came to an apology was regretting the timing of his response.
"I feel betrayed because you're not supposed to do that", Trump told the Journal.
According to the book, Mr. Bannon labels as "treasonous" Donald Trump Jr.'s 2016 meeting with a Russian lawyer, hints at his former boss's cluelessness by saying Mr. Trump "gets what he gets" and calls first daughter Ivanka "dumb as a brick".
He quickly presided over the brand of economic populism promoted by Trump and was hired as chief strategist for the White House.
Earlier this week, Bannon was forced to leave his role as executive chairman of Breitbart News, the conservative outlet whose platform propelled him to national prominence, in the wake of anger from the White House about comments he made in a new book by journalist Michael Wolff, "Fire and Fury".
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INTERNATIONAL RELATIONS PROFESSOR KIM JAE CHUN of Sogang University, on the difference in opinion over the comfort women deal. But he said Wednesday: "The fact that there was an official agreement between Korea and Japan can not be denied".
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Bannon's testimony before the House panel has been expected since last month, when his name was added to a roster of upcoming interviews.
After days of silence amid withering criticism from his former colleagues and his largest benefactor, Bannon tried to make amends.
"My comments were aimed at Paul Manafort, a seasoned campaign professional with experience and knowledge of how the Russians operate", Bannon said. Trump has been asking allies to choose between him and Bannon, and the choice among most has been clear.
Special Counsel Robert Mueller (2nd L) leaves after a closed meeting with members of the Senate Judiciary Committee June 21, 2017 at the Capitol in Washington, DC. "And I think what the American people want to see is fairness". They say the divestment is the largest of any municipality in the U.S.to date.
"The fact that Sneaky Dianne Feinstein, who has on numerous occasions stated that collusion between Trump/Russia has not been found, would release testimony in such an underhanded and possibly illegal way, totally without authorisation, is a disgrace", Mr Trump tweeted. The House committee had sent a letter to Bannon in late December requesting the interview, Bloomberg reported at the time.