Warne was named along with West Indian captain Brian Lara, leading Australians Adam Gilchrist, Ricky Ponting, Matthew Hayden and Glenn McGrath and Englishman Darren Gough.
The first fund-raising match will be played at the Melbourne Cricket Ground on January 10 with the return leg at a venue to be selected by the Asian Cricket Council on a date to be fixed in February or March
The December 26 tsunami, which was triggered by an earthquake off the coast of Indonesia's Aceh province, is estimated to have killed 150,000 people with the toll mounting.
The world team, chosen by former Australian captain Steve Waugh, who held strong ties with the Indian sub-continent, represents Warne's first one-day international since he retired from international limited-overs cricket two years ago.
The Asian XI, to be selected by former New Zealand Test paceman Richard Hadlee and expected to comprise players from India, Sri Lanka, Pakistan and Bangladesh for the Melbourne match, will be announced on Monday.
Rest of the World - Ricky Ponting (AUS/captain), Matthew Hayden (AUS), Adam Gilchrist (AUS), Stephen Fleming (NZL), Brian Lara (WIN), Chris Gayle (WIN), Chris Cairns (NZL), Shane Warne (AUS), Glenn McGrath (AUS), Dwayne Bravo (WIN), Darren Gough (ENG), Daniel Vettori (NZL) (12th man to be named). Coach/manager: Steve Waugh (AUS).