World champions Spain and Argentina will play a friendly on Sept. 7 at River Plate's stadium in Buenos Aires, Xinhua reported.
Spanish federation head Angel Maria Villa made the announcement Friday on Buenos Aires radio.
Argentina coach Diego Maradona has been offered a new four-year deal that will keep him in charge through to the 2014 World Cup in Brazil.
Maradona is expected to talk about the new contract next week with Argentine federation president Julio Grondona.
Argentina also play Ireland in a friendly on Aug. 11 in Dublin.