The match will be held at the Jiangwan Sports Centre and will follow a curtain raiser involving teams from Japan and China.
The Demons are set to field a young side, likely to be captained by Brent Moloney, while the Lions will be headed by the likes of Daniel Rich, Jed Adcock, Jack Redden, Tom Rockliff and possibly Mitch Clark and Matthew Leuenberger.
AFL general manager national and international development David Matthews said the match was a wonderful opportunity to showcase Australian football while Melbourne CEO Cameron Schwab said the timing of the trip was perfect for the Demons' developing list.
"Our time in China is about growing and building trust. The key to any form of development is openness, which in itself is a learned skill and is one of the key outcomes we are seeking from our time away," Schwab said.
"The core of this group will be together for at least the next 10 years."
The Kaspersky Cup coincides with World Expo in Shanghai, at which Australia has a significant presence.
On Saturday, 12 Australian football teams from across Asia will also compete in the Asian championships at Jiangwan Stadium.
In another first, the match will be broadcast live into the Shanghai region on the Chinese language Great Sports Channel and on International Channel Shanghai (ICS).
ICS recently broadcast the drawn grand final.
In 2011, one AFL match per week will be televised live in Shanghai on ICS through the Australia Network.
This year, the AFL also conducted a development program in schools across Shanghai to introduce children to the game and set up a Mandarin language website www.51AFL.com.
Brisbane Lions CEO Michael Bowers said it was a wonderful opportunity to develop and promote the code to a massive international market.
"The Brisbane Lions are certainly honoured to be part of showcasing the best of Australian football and culture to the rest of the world," he said.
"The travelling players and staff will get to share a once-in-a-lifetime experience which can only help to further unite our group."
The AFL's venture into China followed a suggestion by then Federal Trade Minister Simon Crean to take Australian football to Shanghai for World Expo.
