The game was moved to help celebrate the opening of the 150th anniversary season of college football. Talks among both schools, ESPN, Florida Citrus Sports and the College Football 150th Anniversary Organization proceeded over the past several months, culminating with the NCAA decision Thursday.
The game will be televised on ESPN at 7 p.m. ET.
Miami and Florida, who once played on an annual basis, last met in 2013. This will be the head coaching debut for Miami coach Manny Diaz, while Dan Mullen enters his second season with the Gators after a highly successful debut.
"ESPN approached both UM and Florida with the unique idea to broadcast this matchup as the culmination of a daylong celebration of college football's 150th anniversary season," Miami athletics director Blake James said in a statement. "After consulting with Manny, we agreed that this would be a tremendous opportunity to showcase Hurricanes football -- both our present team and our long, storied tradition -- on a national stage."
"We are excited to kick off the celebration of 150 years of college football on August 24 in Orlando," Mullen said in a statement. "It will be a great showcase for the university, our program and all of Gator Nation."