Spain already qualified for the eight-nation competition as the 2010 World Cup holder. Should the Spanish win on Sunday, their European champion's spot will automatically go to the runner-up.
The Confederations Cup is held every four years and considered a warm-up event for the World Cup, held the following year.
Italy reached the Euro 2012 final in Kiev, Ukraine, by beating Germany 2-1 on Thursday in Warsaw.
Other teams taking part in the tournament are Brazil, as hosts, Uruguay, Mexico, Japan and Tahiti. The African representative is not decided.
The tournament kicks off on June 15, 2013, and played in six Brazilian cities, all of which will also host World Cup matches in 2014.
All host cities other than the capital Brasilia, which will host the opening match, will stage three of the 16 games.
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