The Rumble in the Air-Conditioned Auditorium will feature the news show hosts facing off in a 90-minute debate next month.
The live streaming event will be available to watch live for $4.95 (£3.04) or to download later.
The debate will be staged at George Washington University's Lisner Auditorium. Half of the sales from the streaming will be donated to "a number of charitable causes".
The Daily Show's Stewart promised that the debate will be like "the worst Thanksgiving that anyone has ever been to".
Fox News anchor Bill O'Reilly also teased about the "train-wreck" between himself, Stewart and his rival's "18 writers".
The event will be held on Saturday, October 6 at 8pm ET via the debate's official site.
Watch the official promo below: