The fixture will be the first at the 62,000-capacity stadium after its redevelopment for the FIFA Confederations Cup in June and next year's World Cup, reports Xinhua.
Only players from South American clubs will be considered due to the match not being on an official FIFA international date.
Chile coach Jorge Sampaoli is expected to include Brazil-based internationals Marcos Gonzalez (Flamengo), Jorge Valdivia (Palmeiras) and Eduardo Vargas (Gremio).
Officials from both nations are also reportedly discussing the possibility of a FIFA international friendly in Sao Paulo Sep 10, with both countries able to feature full-strength teams.
Chile is currently sixth in the South American zone's World Cup qualifying standings with 12 points from nine matches. The team's next opponents are Peru and Uruguay March 22 and 26 respectively.
Brazil automatically qualifies for the 2014 tournament as the host nation.
