The team will play five matches in Spain and Portugal for nearly three weeks in April next year.
The 24-player squad will be accompanied by teacher and coach Jared Peacock, principal David Hunter and 11 parents.
Mr Peacock said the college squad was "entering the unknown'' to play "cohesive'' teams in Portugal and Spain.
The Taieri team would begin training at the end of the year, including taking lessons on the Spanish and Portuguese languages.
The team would be made up of players between years 11 and 13, he said.
On Saturday, the team will host a fundraising auction night at the Taieri Rugby Club.
The community has donated several items for auction at the event, including a signed All Blacks jersey, given by All Blacks coach Steve Hansen.
The jersey - signed by an All Blacks squad and management - would be one of four All Blacks jerseys to be auctioned.
Other items to be auctioned include a cricket test jersey of Brendon McCullum's, a cricket bat signed by the members of a 2019 Black Caps test squad which played Bangladesh and a Swanndri waterproof jacket.
Other entertainment at the event includes a live band, supper and raffles.
Event co-organiser Debbie Mitchell, of Mosgiel, said the boys have been fundraising for more than a year and as a collective had raised about $80,000. More than 300 people were expected to attend.
- By Nic Duff