The teams met in the men's and women's Olympic tournaments in Rio, with contrasting fortunes. Australia won the men's clash, 1-0, but New Zealand dumped Australia 4-2 in the women's quarter-finals.
Hockey New Zealand high performance director Terry Evans said the event will provide fantastic development opportunities for the Black Sticks against world class opposition close to home.
"This is a huge development for Hockey New Zealand as we look to build an even closer relationship with our Australian counterparts on all levels," Evans said. "Having the opportunity to play an annual event gives our Black Sticks men and women amazing experience against two of the world's best teams as well as an unbeatable spectacle for fans.
"From a high performance perspective it's a rivalry which will help our teams get stronger and more confident the more we play them."
The women's match will be the curtain-raiser on November 17, but will be the main feature on the other two days, November 19 and 20.
Women's coach Mark Hager is contracted through until 2018 but men's mentor Colin Batch's contract ends this year. He is understood to be in talks with HNZ.