Rooney will play in a testimonial match for a Manchester United XI against a yet-to-be-named opponent at Old Trafford on August 3, 2016.
Details of the players and managers who will be involved on the day are expected to be revealed over the next few weeks.
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The 30-year-old has vowed to donate all the profits from the match to the NSPCC, Alder Hey Children's Hospital, Claire House Hospice, and the Manchester United Foundation through the newly-formed Wayne Rooney foundation.
Rooney's representatives said United awarded the striker the testimonial following a meeting between "like-minded individuals and Manchester United fans" who wrote to executive vice-chairman Ed Woodward asking that a testimonial be awarded following the player's 11-year spell at the club.
"I would like to thank everyone involved in making this testimonial become a reality," the United and England captain said.
"Most of all I want to thank the fans for all their incredible support for me and the team since I joined the club.
"The match night will obviously be special for me and my family but I hope it will be a night of celebration for all involved and that we can also deliver one or two surprises.
"Most of all I hope the fans will come out in force and help raise as much money as possible for these amazing charities, all of which are very close to my heart for different reasons."
Since joining United from Everton in 2004, Rooney has won the Premier League five times, the League Cup twice and the Champions League on one occasion.
The striker has also gained a host of individual accolades and is now just 13 goals short of Sir Bobby Charlton's all-time scoring record.
"I am delighted that United fans will be able to celebrate Wayne's amazing years at the club in this way," Woodward said.
"From his sensational debut hat-trick to the latest of his 236 goals, he has been a central figure in what has been one of the most successful periods in the club's history, winning everything from the Club World Cup, through the Champions League and League Cup to his five Premier League titles.
"Wayne has selected good causes very close to his heart and the club is delighted to play its part, in providing Old Trafford as a fitting stage for such a game."
Rooney's agent Paul Stretford added: "When I told Wayne that the a group of fans had come together to form a testimonial committee in his honour and had been granted the rights by the club he immediately insisted that all money raised should go to charities working for disadvantaged and sick children.
"I wasn't surprised because it is typical of Wayne as a man and as father. On Wayne's behalf we are now working hard to make the event a huge success, memorable for the fans, and creating real benefits for those who depend on Wayne's charities."
Manchester United fans: Who would you like to see playing for the Manchester United XI at the testomonial? Give YOUR opinion in the comment box below!