Proceeds from the game, which will be played on Mayday Bank Holiday Monday, will go to Marina Dalglish's Cancer Charity.
Kenny Dalglish wil lead the Reds, while Howard Kendall will manage Everton's side.
Players already confirmed are Bruce Grobbelaar, Ian Rush, Peter Reid and Alan Hansen.
"This is about celebrating and reliving one of the greatest FA Cup finals ever played", said Dalglish. "What matters now is about us all getting together again, enjoying the day and raising more money for Marina's charity.
Kenny Dalglish wil lead the Reds, while Howard Kendall will manage Everton's side.
Players already confirmed are Bruce Grobbelaar, Ian Rush, Peter Reid and Alan Hansen.
"This is about celebrating and reliving one of the greatest FA Cup finals ever played", said Dalglish. "What matters now is about us all getting together again, enjoying the day and raising more money for Marina's charity.
"I've spoken to Howard and he has agreed to take charge of the Everton team, while I'll run the Liverpool side. I'll be getting myself fit to play as well.
"I hope as many of the original lineups will be there. I've spoken to lots of the lads on both sides already and they are up for it."
"I hope as many of the original lineups will be there. I've spoken to lots of the lads on both sides already and they are up for it."