The kick-off time is yet to be confirmed but the Premier League is already making contingency plans should the two London clubs fail to be separated after the final day of the season.
Arsenal are currently two points shy of Chelsea and their goal difference is inferior by only one goal.
If Chelsea draw 0-0 against Everton and Arsenal beat Newcastle 2-1 then the two clubs will be level on points, goals scored and goals conceded.
The same applies to scorelines of 1-1 and 3-2 and 2-2 and 4-3, and so on.
Chelsea have beaten Arsenal twice this season but head-to-head record is not taken into account by the Premier League, which requires a play-off on neutral ground.
If the extra game is required, then the winner will enter the Champions League group stages automatically, with the loser having to come through a qualification round.
Tickets will be priced between £20 and £30.
A Premier League statement read: "The Premier League has consulted with the two clubs throughout the process of planning for this potential match with all parties in agreement that, should it be required, it should take place as soon as possible after the end of the season.
"Discussions with London-based stadia did take place as part of that process but limited availability and calendar restrictions, combined with the desire to use a large capacity ground that has experience in organising and delivering neutral matches, rendered Villa Park the most suitable choice.
"Further information, including ticketing details, will be disclosed by the Premier League and the two clubs on Monday 20 May should results require the match to take place."