La Roja and the 2014 World Cup hosts have been drawn as seeds for next year's tournament, which also features Mexico, Tahiti, Japan and an as-yet-undecided African nation
The Azzurri were runners-up at Euro 2012 but, as Spain - who beat them 4-0 in the final - are the current world champions, their participation in the competition will be as Uefa's representative.
The draw for the two groups will be made this Saturday, however, Fifa general secretary Jerome Valcke has confirmed that Italy will play the Selecao, while the World Cup winners will be partnered with Uruguay in the other group.
"As Brazil and Spain are the seeds, this means Italy will be in Group A, with Brazil and Uruguay in Group B, seeing as the South Americans cannot be in the same group as Brazil," Valcke said.
The tournament will take place next year in Brazil as a warm-up for the 2014 World Cup and will also include Japan (Asia), Mexico (North America) and Tahiti (Oceania) who are all current champions of their respective regions.
With the African Cup of Nations to be played at the start of 2013, it is still not determined which country will represent that continent.
Brazil - who have won the last two iterations in 2005 and 2009 - will host the tournament that will kick-off on June 15 2013, with the final to be played on June 30.