The 12-hole match (not 18) between the two golfers who feuded for much of 2021 will take place Nov. 26, the day after Thanksgiving, at the Wynn Golf Club in Las Vegas.
Turner Sports will televise The Match, which the PGA Tour announced Tuesday, on TNT (as well as TBS, TruTV and HLN) at 4 p.m. ET.
Both players took to social media after The Match was announced.
"So does this mean we're having 'Friendsgiving,'" Koepka tweeted.
Added DeChambeau: "Finally what the world has been waiting to see."
Mickelson and Woods were involved in a second Match along with Tampa Bay Buccaneers quarterback Tom Brady and Hall of Fame QB Peyton Manning. This will be the first time that Mickelson is not involved as a player, but he is expected to have some role, likely as part of the broadcast.
The DeChambeau-Koepka feud dates to early 2019 when Koepka made an issue of DeChambeau and slow play. It escalated this year after an interview that was not aired went viral following the PGA Championship in which Koepka showed his disdain for DeChambeau as he walked behind him while about to conduct an interview.
It grew from there, to the point that spectators were often heard to taunt DeChambeau with the cry "Brooksy'' at various tournaments.
The issues between the two became big enough that U.S. Ryder Cup captain Steve Stricker sought to defuse things before the event last month. The players didn't practice or play together during the Ryder Cup, but there was a seemingly reconciliatory handshake after the event.
DeChambeau also noted the team dinner on Monday night of Ryder Cup week and hinted at what might be coming.
"I sat down and had dinner with him last night, and it was fine,'' DeChambeau said. "I think there may be something up here moving forward, but won't speak too much more on that.''
DeChambeau, 28, is an eight-time winner on the PGA Tour, including the 2020 U.S. Open. He is ranked seventh in the world. His last victory came at the Arnold Palmer Invitational in March, and he went 2-0-1 at the Ryder Cup.
Koepka, 31, also has eight PGA Tour victories, including four major championships. He is ranked ninth in the world. His last victory came at the Waste Management Phoenix Open in February, and he went 2-2 at the Ryder Cup.
Once their feud was renewed after the PGA Championship, the players were never in the same group the rest of the season.