Money raised from the second day's play between Australia and a World XI in Sydney on Saturday will be donated.
International Cricket Council chief executive Malcolm Speed said it had looked at staging a charity match.
But he added: "We think the approach we're taking is a more effective way of addressing the issue."
The ICC kickstarted the fundraising by giving £340,000 to the Australian Red Cross and Speed added there would be a number of initiatives at the game on Saturday for fans to raise more money.
Pakistan captain Inzamam-ul-Haq said his players had agreed to donate 25 per cent of their match fees from the upcoming series against England to the appeal.
And England players have pledged their match fees from the first one-dayer in Lahore on 10 December - a match where all the gate proceeds will go to the official Earthquake Relief Fund.
Meanwhile the Asian Cricket Council is planning to hold a one-day international to raise funds.
