Up until now, the Supercopa has been a two-legged affair played between the winners of La Liga and the Copa del Rey, but the Spanish Football Federation (RFEF) announced plans for a new format earlier this year.
That will see four teams take part instead of two. Barca, as league champions, will be joined by Copa winners Valencia. Atletico and Real make up the list after finishing second and third, respectively, in La Liga last term.
Previously, the Supercopa has been a curtain-raiser for the season, taking place in August, but the revamped competition will now be played in early January, with two semi-finals and then a final between the 8th and the 12th.
Spanish sides return to action following the winter break on the weekend of January 5, with a two-week hiatus in La Liga after that to accommodate the new Supercopa which, although it has not been officially confirmed, will be played in Saudi Arabia.
The decision to play in Saudi Arabia has caused controversy due to the nation's questionable human rights record in recent times, amid reports that the RFEF will receive €180 million for staging the competition in the oil-rich state.
There will be no seedings for the new-look competition, so Barcelona and Real Madrid could potentially meet in a Clasico clash in the semi-finals or even in the showpiece fixture.
The draw will take place at 4pm CET (3pm GMT) at the RFEF headquarters in Madrid.