The game will be seen as a re-match of the 2001 encounter between the same teams, also held at the Reebok, in which the Australians could not cope with a second half snowstorm.
St Helens chief executive Sean McGuire said: "Now we have the venue confirmed, the build-up and anticipation for the match can begin in earnest.
"Everybody at the club is tremendously excited by the prospect of competing in the 2007 Carnegie World Club Challenge, and all Saints fans will have great memories of that fantastic night in 2001 when we lifted the trophy against Brisbane."
The Australian side have only won twice since the competition was re-introduced in its current format for the 200 season.
St Helens had also considered Goodison Park and their own Knowsley Road as venues after the game had been switched from its original scheduling in Australia, with Suncorp Stadium having been a likely location.