The match will be held at the New Bloomfield Stadium in Jaffa, the southern part of the coastal city of Tel Aviv-Jaffa.
The agreement with the two teams for playing in Israel was signed by Comtecgroup, along with the Israeli-Canadian Jewish billionaire Sylvan Adams.
Comtecgroup's owner and CEO, Daniel Benaim, said: "After long negotiations and intense competition with strong countries with huge budgets worldwide, I am happy and proud to bring the Israeli fans soccer at the highest levels."
Adams said: "I am delighted to bring the two huge teams, and it will be an outstanding soccer show to Israelis. This giant game will lead to wide media exposure to millions of viewers around the world."
Argentina will play against Brazil on November 15 in Saudi Arabia, and from there it is expected to fly directly to Israel on a private plane.
The New Bloomfield Stadium was closed for renovations in 2016, and reopened in August 2019 with 29,150 seats, instead of 14,400 before the expansion.