Club legend Kenny Dalglish will manage the 'Home' team while an 'International XI' will be in the care of former Reds boss Gerard Houllier.
Ian Rush, Robbie Fowler, Steve McManaman and Jamie Carragher are among the home starters while Jan Molby, Dietmar Hamann, Vladimir Smicer and Luis Garcia are confirmed for the 'visitors'.
The 'Celebration of the 96', which will take place on Easter Monday, will honour the memory of the 96 Liverpool fans who lost their lives at the FA Cup semi-final at Hillsborough Stadium in Sheffield on April 15, 1989.
Margaret Aspinall, the leader of the Hillsborough Family Support Group who lost her 18-year-old son James in the tragedy, told the club's official website: "We wanted to host an event to celebrate the lives of the 96 and give the people the chance to come to Anfield for a fun afternoon."
Dalglish, who scored 118 goals in 355 games for Liverpool and had two spells in charge of the club, said: "This is a great opportunity for the families and fans to come together at Anfield for a celebration in honour of the 96.
"Everyone here at Liverpool Football Club is behind this event and it is also great to see so many former players travelling in to make this a special day."