East midlands rivals Derby County and Nottingham Forest will compete for the inaugural Brian Clough Trophy at Pride Park on Tuesday 31 July.
Clough died from stomach cancer aged 69 in September 2004
Master manager Clough, who died from cancer in September 2004, managed both sides to unprecedented success.
His widow Barbara said: "Brian would have thoroughly approved of this trophy, to be played between two clubs he loved so much."
Proceeds from the contest will go to local charities in the east midlands.
The charities willl be chosen by Derby, Forest and the Brian Clough memorial fund.
In future, any league, cup or friendly game played between Premiership Derby and League One Forest will automatically become a Brian Clough Trophy game.
Clough managed Derby from 1967 until 1973, leading them to their first league championship in 1972, reaching the European Cup semi-finals a year later.
He took charge of Forest in 1975, won the title in 1978 and won the European Cup in 1979 and 1980, retiring from the game in 1993 due to ill health.
Special guests at the inaugural game will include members of Clough's European Cup-winners at Forest and his title-winning side at Derby.