Donald and Mickelson to play HSBC Champions
They will be joined by defending champion Martin Kaymer of Germany and England's Lee Westwood, ranked number four in the world, at the event at Mission Hills' Olazabal Course from November 1 to 4, the organisers added.
Kaymer, winner of last year's event by three strokes, said: "I haven't had as good a year as I would have liked and I really want to finish my season on a high note so winning my second World Golf Championships would be a great way to turn my season around."
The tournament, one of Asia's richest, is being held on a new course this year with the previous seven titles being held at Sheshan International Golf Club in Shanghai.
"It is a little bit of a disadvantage to be defending my title on a different course but I really liked the Olazabal Course when I played the World Cup there in 2009 so I am looking forward to returning and seeing if I can mount a successful defence of this prestigious title," added Kaymer.
Mickelson, a two time winner of the event, similarly suggested that the tournament could spring a new champion this time round because of the different course, which is 7,320 yards in length.
"Although I have won the title twice, this year we are playing on a new course in a new venue so I won't have the advantage of my past experiences," the American said in comments released by the organisers.
The event is run by the International Federation of PGA Tours, which includes the Asian Tour, European Tour, and the United States's PGA Tour among others.
The course was designed by two-time major winner Jose Maria Olazabal.