Tendulkar will lead the Marylebone Cricket Club (MCC), the owners of the northwest London venue, while Warne will head a 'Rest of the World' side in a 50-overs per side match at the 'home of cricket' on July 5.
According to News.com.au, Tendulkar's former India teammate Rahul Dravid has also been included in the MCC XI and will make a return to the scene where he scored 95 on his Test debut, against England in 1996.
Stating that he was looking forward to the fixture, Tendulkar, who scored a hundred in the Diana Princess of Wales Memorial Match at Lord's in 1998, said that he is honoured to be asked to captain MCC in such a prestigious game, adding that he is looking forward to helping celebrate the bicentenary of Lord's as it is a special place to play cricket.
Tendulkar, who was presented with an MCC Honorary Life Membership in 2010, also said that it will be a privilege to play at the 'home of cricket' once again, while Warne, who took 19 wickets in four Tests at Lord's, said that he is sure that the match will be a lot of fun.
Meanwhile MCC president Mike Gatting, who was involved in a similar, star-studded, match in 1987 when he scored 179 for MCC in a five-day fixture marking the 200th anniversary of the club, promised 'more big names' for the fixture in the 'coming weeks'.