Wales will play the All Blacks on June 19, the first of a two-test series.
The match will complete a full programme of tests against recognised test nations for Carisbrook since the ground first staged test rugby in 1908.
Wales has previously played at Carisbrook, but both times it was against Otago, in 1969 and 1988.
It is expected to be the last test to be played at the ground, with the Forsyth Barr Stadium due to be completed in 2011, and a shortened test programme that year because of the Rugby World Cup.
Otago Rugby Football Union chief executive Richard Reid said he was delighted to have the first test against Wales awarded to the city.
"Tests are very important to us at the union, but also to the city and province generally," he said.
"The support we've had for the past two years has been fantastic and the New Zealand union obviously has taken notice of that. We're looking forward to another `house full' sign going up in rugby city next year."
Carisbrook had missed out on tests in 2006 and 2007 but had staged sell-out tests against the Springboks in 2008 and France last June.
The test will be played on a Saturday night.
Reid said the committee which had successfully organised the past two tests in Dunedin would reconvene before Christmas and start planning for the game.
The way tests had been co-ordinated in the city the past two years was now used as the blueprint by the New Zealand Rugby Union on how to organise rugby matches around the country, Reid said.
A sold-out test gives a financial boost to the Otago union.
The All Blacks will play another test in New Plymouth, after a successful first test there last year, against Samoa.
They will open their test season against Ireland in New Plymouth, on June 12.
They will play the second test in the series against the Welsh in Hamilton, on June 26.
The Tri-Nations home tests will have the All Blacks playing the Springboks in Auckland and Wellington, in July, and then Australia in Christchurch, in August.
Its away games in the Tri-Nations are in Melbourne, Sydney and Johannesburg.
