Lee is one of only four Australian bowlers to take more than 300 Test wickets. (Agencies)
"I know first-hand how this important fixture on the Australian cricketing calendar can help propel the careers of young aspiring cricketers," Lee said.
"I first played in the Prime Minister's XI against India in 1999 and was fortunate enough to take four wickets in that match,” he said.
"Less than three weeks later I found myself on the biggest stage of all playing at the MCG on Boxing Day in my first Test match for Australia,” he said.
"More than 14 years on, I'm proud to lead what I'm sure will be an emerging team of stars here next month."
The rest of the team will be announced in the coming weeks. The day-night game will be played on January 14.
Lee is one of only four Australian bowlers to take more than 300 Test wickets.