The long standing rivalry between the nations, which began in New York in 1844, will resume in a three-day game at the Brian Piccolo Park in Florida beginning on May 28.
The 12-match ICC Intercontinental Cup is being played across four continents between March and November 2004. It is the first time a first-class competition has been staged for countries below Test match level.
The two nations have previously met on four occasions in ICC tournaments, at the 1982, 1986 and 2001 ICC Trophy competitions, and the recent ICC Six Nations Challenge in March with the record standing at 2-2.
The contest at the ICC Six Nations Challenge in the United Arab Emirates (UAE) saw the USA prevail by six wickets before going on to win the tournament and qualify for the ICC Champions Trophy in England this September.
USA captain Richard Staple said his team was looking forward to renewing the rivalry and gaining experience in a first-class competition.
"The ICC Intercontinental Cup is a tremendous opportunity for the game to excel among the associate membership of the ICC," Staple was quoted as saying in an ICC press release.