Football Association (FA) chairman Greg Clarke on Friday said the proceeds from the 2017 FA Community Shield will be donated to support those affected by the Grenfell Tower fire.
He said football is for all and hopes that in some small way through the Community Shield the association is able to give something back to those who are in need.
Arsenal will play Chelsea on 6 August at Wembley Stadium, and £1.25m could be raised from the match.
According to BBC Sport, the English Football League will also be donating £175,000.
79 people are reported missing or presumed dead in the attack while survivors, the families of the victims and emergency services personnel will all be invited to the game as guests.