The annual event features winners from various motorsport series Racing in identical cars and will take place at the Rajamangala Stadium, home of Thailand's national football team, from December 15-16.
The event has been held in Duesseldorf, Germany, for the last two years before which it made its Asian debut at Beijing's 'Bird's Nest' Olympic Stadium.
Schumacher and Vettel have teamed up for Germany to win the "Race of Nations", which forms the first half of the event, for the last five years.
"I have never raced in Thailand before so this will be an interesting addition to my motor sport travels," Schumacher said in a news release.
"Of course it means Team Germany won't have the home advantage of the past two years but Seb and I managed okay in London and Beijing so we hope it won't stop us from keeping up our run.
"Racing in a stadium is sensational - and it's a very different experience for us drivers to hear the fans so close. And of course we are all professionals so the moment we close the visor we want to win..."