The four-day game in June will help the visitors prepare for their Ashes series in England later in the summer.
Australia will be led by Ricky Ponting and will also feature the former Saltire Ed Cowan and other established Test men such as Phil Hughes and Peter Siddle.
Roddy Smith, chief executive of Cricket Scotland, said: "We are waiting for final confirmation, but we're confident the game will go ahead. It will be a tremendous occasion to host so many of Australia's leading players for a four-day game and obviously a great test for our own guys."
The match, pencilled in for June 7-10, is likely to be staged at the Citylets Grange in Edinburgh, where the full Australian 50-over side will return for an official one-day international in September.