Cricket Australia chief James Sutherland and New Zealand counterpart David White have confirmed the two countries had agreed to embrace the pink-ball clash, from November 27 to December 1. It could take on even greater prominence as the Test will be the third in what shapes as an intriguing three-match series.

The boards believe the format will boost attendances and television ratings, with Channel Nine boss David Gyngell declaring: "Evolution is everything in elite sport and its coverage, and it's up to us all to think outside the square and meet these challenges".

While NZC had been in favour of the match, its players had expressed concerns over the uncertainty of the coloured ball, especially as there were issues among Australian players, particularly through the twilight period, during trials at first-class level over the past two summers.

However, NZC Players Association chief Heath Mills said the players had agreed to take part for the good of the sport.

"It's fair to say our players are nervous about the day-night Test. It's uncharted territory and because of that there will be uncertainty and apprehension," he said. "However, whilst the players have reservations about the concept, they can see the bigger picture in the new agreement, and the greater good it brings to all levels of the game."

Australian coach Darren Lehmann, who was part of the day-night Test talks at the ICC Cricket Committee meeting in Mumbai last month, said he was delighted his team would have the opportunity to be involved.

"It's going to be history, isn't it? It's a great Test match traditionally and now the day-night Test match adds something special to it," he said.

Sutherland first flagged the day-night concept in 2007 but the stumbling block for so long had been finding a suitable ball.

Kookaburra chief Brett Elliot told Fairfax Media earlier this month that issue had now been resolved, with a pink ball "identical" to the red and white balls in terms of hardness and bounce.

The day-night Test comes as CA agreed to improve its business relationship with its trans-Tasman rival, who do not boast anywhere near the financial might of CA. This means battle for the Chappell-Hadlee Trophy will become more prominent, with six ODI series over the next four years, and with the Black Caps to host four series.

The relationship had soured as the Black Caps struggled on the field, but they have since emerged as a world force.

Former Australian captain Greg Chappell said CA "have a responsibility as the senior partner, if you like, to make sure New Zealand cricket is healthy", and floodlit Tests would add "another level of the game to adapt to".

Sutherland said day-night Tests could re-energise the sport's traditional format in other countries.

"One of the global challenges with Test cricket is that most of the matches outside holiday periods are played on week days, in the middle of the day when people are at work and kids are at school," Sutherland said.

"By shifting the playing times each day's play can go into the evening and allow people to come in after work or after school to attend the last few hours of play, but also when they get home in other parts of the world or other parts of the country, they can watch the game on TV.

"The Perth Test match is a great illustration of that. It's fanatically watched on the eastern seaboard of Australia every year because of the time difference. Our television ratings are something like 40 per cent more for the whole country."

In what already is a crowded summer schedule, Sutherland said players from both teams would be given enough warm-up matches to prepare for the pink ball.

ICC chief David Richardson said CA and NZC were taking a "bold step".

"Day-night first-class cricket has been trialled in a number of countries – Pakistan, England, Australia, South Africa – but I think it's true that most Test cricketers are still a little bit sceptical that conditions are not really suited batting in the twilight time," he said.

"I think that the fact that New Zealand and Australia are taking the step now, quite a bold step, in staging a match, the first of its kind, I think will at least in the long run show to players that, 'Hold on, it's not as bad as we might imagine, that the pink ball is pretty similar to any other cricket balls that we have to play with' and the scepticism will go away."