"Munster has a proud history including their famous 1978 victory and a Heineken Cup final this season," said New Zealand Rugby Union CEO Steve Tew.
"We are delighted to be part of another chapter that also has commercial benefit for both teams. One of our aims is to find additional revenue to support the game in New Zealand.
"As rugby people, we're glad to see it take the shape of a mid-week match."
Munster Chief Executive Garrett Fitzgerald said: "I can't think of a better way to celebrate such an auspicious occasion than for Munster to play one of the top ranked teams in the world at our own stadium.
"We are honoured they have accepted our invitation to help us open the new Thomond Park and we are looking forward to a fixture that has already captured the imagination of the public at large.
"We would like to thank the NZRU and IRFU for their efforts in bringing negotiations to a successful conclusion."
The Munster match is the final addition to the All Blacks' 2008 end-of-year tour schedule. Graham Henry's side will be playing six matches on the tour, including dates with Australia (in Hong Kong), Scotland, Ireland, Wales and England.
The clash with Ireland will take place at Croke Park on Saturday, November 15.
Details of ticketing arrangements for the Munster v All Blacks game will not be decided until the end of next month.