Surrey said all profits from the match would be donated to the appeal.
Earlier this month a One-day International between Asia and the Rest of the World at the Melbourne Cricket Ground raised 11 million dollars for victims of the tsunami, which killed an estimated 168,000 people and caused widespread devastation after sweeping through Indian Ocean coastlines on December 26.
Surrey said ground sponsors Brit Insurance had already pledged "a significant donation" and the club added they hope to attract corporate as well as public support for a match which has the official backing of both the International Cricket Council (ICC) and the England and Wales Cricket Board (ECB).
Surrey chief executive Paul Sheldon said: "We are delighted to be able to play a small part in helping to rebuild the shattered lives of the victims of this terrible disaster.
"Brit Insurance's immense generosity will mean that a large number of our Asian friends and supporters will have an opportunity of seeing some of their greatest heroes in the first Twenty20 event of its kind.
Sheldon's counterpart at ECB, David Collier, added: "The world of cricket has played a leading role in responding to the tragic events caused by the Tsunami.
"ECB is most grateful to Surrey County Cricket Club and to Brit Insurance for their generous offer to stage this match and thus provide an exciting opportunity for supporters of cricket in England and Wales to support the Appeal Fund."
Situated in south-east London, close to the British capital's financial centre, The Oval is England's oldest international cricket venue having hosted the first Test match played in the country back in 1880.
It is currently undergoing an all-round redevelopment which should be completed just weeks before the game.
Following the success of the Melbourne game, talks over a return charity fixture in the Asian sub-continent next month are currently underway.
Kolkata's 90,000 capacity Eden Gardens appeared to be the likely venue for the match.
But problems over tax arrangements with Indian authorities have led cricket chiefs to look at staging the game at either the Kadhafi stadium in Lahore, Pakistan or the Bangabandhu national stadium in the Bangladesh capital of Dhaka.
However, neither a date or venue for the game has yet been announced.