The game will form part of the FA's celebrations to mark their 150-year anniversary.
It has been 13 years since the teams last met, when Scotland beat England 1-0 at Wembley in November, 1999, in a Euro 2000 play-off.
Don Hutchison scored the only goal of the game, but it was England who progressed to the European Championships after they had won 2-0 at Hampden in the first- leg tie.
The game, to be played on Wednesday, August 14, is certain to be a sell-out and is just one match in what the FA hope is a succession of high-profile fixtures.
"For any Scotland supporter, player or coach, Scotland v England is the ultimate contest. It really is as good as it gets," said Scotland boss Craig Levein.
"I am thrilled we have reached agreement with the FA to play at Wembley as part of their anniversary celebrations, and I am sure the fans will be there in their tens of thousands.
"Our match against Brazil at the Emirates Stadium in London last year was a tremendous spectacle and I was overwhelmed by the support we had that day.
"This is an even more mouth-watering prospect and the players will be desperate to record another win at Wembley.
"It will also be the best test possible before we resume our World Cup qualifying campaign next year."
The England-Scotland game could never be revived in the manner of old, through the Home Internationals and – when that was scrapped in 1984 – the ill-fated Rous Cup, which was abandoned in 1989.





