Liverpool's Steven Gerrard and Jamie Carragher will play for a Europe XI side in a jubilation match against Manchester United on 13 March.
Gerrard will team up again with ex-England captain David Beckham
The game at Old Trafford commemorates the 50th anniversary of United's first competitive European fixture as well as the founding of the Common Market.
Marcello Lippi will manage the Europe team and Real Madrid's David Beckham will also play against his former club.
Fixture congestion means Lippi cannot select Arsenal and Chelsea players.
It is an honour for our club that two of our players have been selected to represent Europe
Sir Alex Ferguson has already pledged to field a full-strength line-up, including Henrik Larsson in what could be his farewell United appearance.
While the precise European line-up is yet to be finalised, Lippi has expressed the hope that most of his 2006 World Cup-winning squad will be at Old Trafford.
Liverpool boss Rafael Benitez insists he is happy to release his two most senior England internationals for the fixture.
He said: "It is an honour for our club that two of our players have been selected to represent Europe.
"I know that they feel very privileged to be in the team and that they will enjoy playing alongside the top players from other clubs.
"It will be a nice experience for them and one I am sure they will remember with pleasure in years to come."