The 23-year-old signed for the Waratahs in December after a disappointing two years playing in Australian Rules, having previously represented Australia at rugby league.
After impressing during the three trial matches, Folau will start at full-back in his much-hyped debut at the SunCorp Stadium.
Waratahs' head coach Michael Cheika, who will be in charge for his first match, said Folau's big-match experience should help him cope with the highly-charged atmosphere.
"It'll be a pressure-cooker atmosphere but he's experienced that before so he'll be ready for it," Cheika said in a statement.
"A big part of going away from home is getting the fans against you and you've got to try and silence them by what you do on the field."