Proceeds from the English football season's curtain raiser are to be donated to those affected by the Grenfell Tower fire.
The Football Association (FA) said today it is hoping to raise £1.25m from the FA Community Shield between Arsenal and Chelsea on 6 August.
"Whilst only a football match, we hope that in some small way through the Community Shield we can help," said FA chairman Greg Clarke.
Two great London clubs will come together to play at the city's most famous stadium just a few miles from Kensington.
The FA will also invite the families of the victims and survivors as guests to the game along with all emergency service personnel involved in helping deal with the tragedy.
Arsenal chief executive Ivan Gazidis said the club "stands side by side with Chelsea" in expressing support for those affected.
Meanwhile, Chelsea chairman Bruce Buck said: "We believe it is appropriate and timely that the first major football match involving top-flight clubs to take place in our city since the tragedy will be dedicated in such a way to the victims and survivors, and to the enormous number of heroes of the rescue operation."