The event will be held as a celebration of Paul ‘Wally’ Walden, a popular former manager of both clubs, who dies from a brain tumour in 2020.
Saturday’s contest – dubbed Gaffa’s Game 2 – will be held at the White Wolves’ ground in Saltfleetby, kicking off at noon.
The teams will feature a selection of former players from teams Walden formerly managed, most notably Louth and the Lilywhites.
He also had spells in the dug-out with Sleaford Town, Sutton Rovers and Hogsthorpe FC.
Last years inaugural game ended with Wally’s White Wolves defeating Wally’s Rams – a nod to his love of Derby County – on penalties after a pulsating encounter, enjoyed by a bumper crowd.
Gates will open at 11am with the bar open in the club house all day.
There will also be a pizza van providing refreshments and a raffle will be held to raise further funds for a charity to be chosen by the Walden family.
“If you are a friend, colleague or former player of Wally’s, or you just love high quality football, please come and join us to celebrate a local legend,” said Mark Hallam, one of the organisers and a former player under Walden.
Walden’s popularity has been evident since his passing, with pals and ex-players keen to pay their tributes.
A total of £15,560 was also in Walden's memory following a marathon challenge between Skegness and Louth in December 2020.
The funds from that event were donated to St Barnaba's Hospice in Louth, which cared for Walden.
“We had a fantastic time at both Skegness Town and Louth Town with him, the type of character he was, he made it very much a family environment and people have stayed in touch since then,” Hallam explained prior to that first fundraiser.
“From the times we had at those two places, it seemed a poignant thing to do. From ground to ground where we had so much success with him.
“Wally had this unique ability to get people to run through brick walls for him. Even if he put you on the bench you’d still give your all for him if you got on.”