Cancellara quit the sport after winning a second Olympic gold medal in Rio in August, but he will take to the famous boards at Kuipke Velodrome on November 12 for a 'Ciao Fabian' event, three days before Ghent Six.
Wiggins, who will be racing Ghent Six with Mark Cavendish after their second place at Six Day London, will be one of the riders to race four-time time trial world champion Cancellara in a 2km pursuit competition.
>>> Watch: Bradley Wiggins hints that he may continue racing into 2017
Franck Schleck, Filippo Pozzato and Sep Vanmarcke will also go head-to-head against the 35-year-old.
The special event will be one last time for Belgium fans to witness Cancellara, with Flanders fans in particular adoring the three-time Tour of Flanders winner.
All 6,200 tickets have been sold for an event that organisers say will be "a mix of goosebumps, moments in pictures, conversations, music, and a few surprises."
Wiggins shared the podium with Cancellara at both the 2011 and 2013 Worlds, when the Briton finished second behind Tony Martin in the time trial, with Cancellara third on each occasion. Wiggins' biggest success directly against the retired Trek-Segafredo rider was his Olympic time trial victory in 2012, with Cancellara only managing seventh after a crash in the road race.
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