Petrov, who announced his retirement last month at the age of 33 as he continues his battle with leukaemia, and a number of his former team-mates and other players and celebrity fans will turn out at Celtic Park on Sunday, September 8 (2pm kick-off).
The ex-Bulgaria, CSKA Sofia and Aston Villa player, who is setting up a foundation to help address the issues involved when people receive a leukaemia diagnosis, said on www.celticfc.net: "I'm absolutely delighted that this game is going to take place at Celtic Park.
"It will be a wonderful start for my foundation, and I'm really happy to be coming back to a place where I spent seven brilliant years. It will be great to see everyone there."
Celtic chief executive Peter Lawwell added: "Stiliyan was a wonderful servant to the club and his drive, commitment and natural flair made him a true fans' favourite.
"He has shown remarkable courage and determination in his battle against leukaemia and we will continue to support him as his recovery continues.
"We are absolutely delighted to host this charity match which will provide our supporters with a collective opportunity to show their appreciation and love for one of our own."