Sachin Tendulkar and Courtney Walsh will coach star-studded lineups in the Bushfire Cricket Bash scheduled to take place on February 8.
The exhibition match is aimed at raising funds for the hundreds of victims of Australia's devastating bushfires.
Tendulkar will dispense his cricketing expertise to the team led by Ricky Ponting, his former Mumbai Indians teammate, while Walsh will serve in the coaching capacity for Shane Warne's side.
The charity game is set to feature other Aussie greats including Adam Gilchrist, Brett Lee, Michael Clarke and Shane Watson, all of whom have readily communicated their availability for the fixture.
Steve Waugh and incumbent Australian coach Justin Langer will also be involved in non-playing roles.
The venue for the clash will be decided once the finalists for Australia's Big Bash League are confirmed.
The Ponting XI-Warne XI contest is one of the three matches that will take place on February 8 since the women's T20I game between Australia and India is planned on the same day.
"We are absolutely honoured to be welcoming Sachin and Courtney back to Australia where they both enjoyed a lot of success as players, and we can't wait to have them involved," said Cricket Australia CEO Kevin Roberts.
Warne and Walsh's collaborative effort with the CA will boost the range of initiatives undertaken by the board to aid rescue operations for the bushfire tragedy affectees.
CA recently donated AUD 2 million to community cricket clubs drastically impacted by the fires while several players have auctioned their cricket memorabilia to collect money for the Australian Red Cross Disaster Relief and Recovery Fund.
Earlier this month, Warne sold his 'baggy green' cap for a record sum in excess of AUD 1 million with all funds going to the victims.