Watford and Aston Villa will play a friendly on July 29 in memory of Graham Taylor, who managed both clubs.
Former England boss Taylor died at the age of 72 in January, and Vicarage Road will host the first in what is planned to be a series of Graham Taylor Trophy games against his other former clubs.
Profits from the friendly will be split evenly between the National Memorial Arboretum and the Hornets' self-financing registered charity, the Watford FC Community Sports and Education Trust.
Taylor, who started his career with Lincoln, led Watford through English football's lower divisions to a second-placed finish in the top flight and an FA Cup final appearance in 1984.
He left Watford for the Villa job in 1987, winning promotion to the First Division a year later before going on to take charge of England in 1990.