The match will be played on May 31 and the ICC has confirmed its full support by granting it international status.
The proceeds from the fund-raising match will go towards restoring the stadiums -- James Ronald Webster Park in Anguilla and Dominica's Windsor Park Stadium -- damaged by Hurricanes Irma and Maria in September last year, the Marylebone Cricket Club (MCC) said in a statement.
Hurricanes Irma and Maria have devastated parts of the Eastern Caribbean and we have been considering how we can best show support for our region in the most impactful way, said Dave Cameron, the Cricket West Indies president.
I would like personally to thank MCC for agreeing to host the match at Lords, and ECB, especially their President Giles Clarke, for their kind and generous support of this initiative," he added.
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Guy Lavender, the Chief Executive and Secretary of MCC, pointed to the relationship the club, which owns Lords Cricket Ground and is the guardian of the Laws of Cricket, has shared with the people of the Caribbean for many years.
MCC is delighted to be able to host this very special match. The last time that a match between the Windies and Rest of the World was held at Lords was in 1966, Lavender said.
"The ECB and CWI have always enjoyed a fantastic relationship and we are keen to support them and the people of the Caribbean in this fundraising initiative.