The match is likely to be played in Sydney in June or July.
"The Australian Rugby Union (ARU) has thrown its support behind a proposed North-South match that would feature the world's best rugby players coming together to raise funds for the Asian Earthquake and Tsunami appeals," the ARU said in a statement.
"While the details of the match, including the date and location, are yet to be decided, a match during the inbound Test season (June-July) is seen by the ARU and the NZRU as the best option to secure the superstars of World Rugby."
ARU chief executive Gary Flowers said he had spoken with his New Zealand counterpart Chris Moller and they agreed on Sydney's Olympic Stadium as the proposed venue.
A world cricket charity match in Melbourne earlier this month raised more than $11million.
"We still need to discuss the options with the IRB (International Rugby Board), the British and Irish Lions and our SANZAR (South Africa, New Zealand and Australia Rugby) partners, but the idea of a match in June or July is seen as a better option than March to ensure we have the cream of Southern Hemisphere Rugby available," he said.
