Kasparov held the title until 1993 when he broke away from the World Chess Federation (FIDE) to form the Professional Chess Association while Karpov was FIDE world champion from 1993 to 1999.
The chess world title was only unified in 2006.
Kasparov, who retired from professional chess in 2005, said the match in Valencia would be more of a "ceremonial tournament" with a time-limit on moves.
"In this case, nostalgia will be a positive thing, and the duel will serve to put a spotlight on chess again, just like 25 years ago. In any case, we're both capable of playing high-quality chess," he told El Pais newspaper.
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