Confirming the fixture, Australia head coach Robbie Deans said: "The additional non-Test matches that we have played on our last two northern Hemisphere tours have been of great benefit to Australian rugby, in terms of exposing players, and we expect this trip to be no different.
"Last year, guys played their way into the Test side for our game against England during the midweek tour match at Gloucester, while a few of the young players who made their debuts later on at Cardiff are now starring for their provinces in the Investec Bank Super 14, which highlights the benefit we have already had from these games.
"To be able to play Munster - one of the true powerhouse provinces of the European game - will be a great experience for our players, while also providing an excellent development opportunity."
Munster's Australian-born coach Tony McGahan said: "I believe it's a great tribute to Munster's standing in world rugby that the Wallabies have agreed to extend their travel to include this fixture.
"I welcome the opportunity to hopefully replicate the marvellous occasion that we had last time an international side (New Zealand) visited Thomond Park to play Munster and this is a game we are already all looking forward to."
Tickets for the Munster v Australia clash will be confirmed at a later date and will initially be sold through the Munster clubs and the Munster Rugby Supporters Club. Further ticket information will be carried on www.munsterrugby.ie.
Munster Rugby also confirmed that they have agreed two home pre-season fixtures for next August against Gloucester and Leicester Tigers. Full details of these matches will be confirmed in June/July on the Munster Rugby website.