That means Nadal and Alcaraz will be team-mates, as they were during the Olympics in the summer when they joined together to form a doubles partnership, but before that they will be on opposite sides of the net on Thursday.
The pair meet in the semi-finals of the Six Kings Slam, an exhibition event being held in Saudi Arabia.
Each of the six players competing will take home a guaranteed £1.15m, with the winner picking up £4.59m, more than has ever been on the line at an event in the sport’s history.
Nadal and Novak Djokovic were both handed byes through to the semi-final, while Alcaraz joined them in the last-four after beating Holger Rune 6-4 6-2 on Wednesday.
Nadal and Alcaraz have played each other three times, with Alcaraz beating his idol for the first time in their most recent meeting, in Madrid two years ago.
How to watch Carlos Alcaraz vs Rafael Nadal
Play is scheduled to begin in Saudi Arabia from 5:15pm BST on Thursday, October 17, 2024.
However, an order of play has not been confirmed, with Novak Djokovic’s match against Jannik Sinner also taking place.
Live stream: The match between Alcaraz and Nadal will be broadcast on Sky Sports Tennis, with coverage getting underway at 5:15pm BST.
Live stream: Subscribers will be able to watch on a live stream via the Sky Go app, while DAZN will be streaming the match for free.