Goddard and Rock are among a 36-strong European team taking on Phelps and America at the `Duel in the Pool' in Manchester next month.
The duo's coach Sean Kelly will be in charge of the E-Stars, as the combined British, Italian and German team will be known.
The meeting on December 18 and 19 will be a special occasion for Mancunian Kelly.
"I was born less than half a mile from the Aquatics Centre, went to school just round the corner at St Mary's, so it's my home turf," he said.
"I also had my first major win as a coach there with James at the 2002 Commonwealth Games.
"So the pool is a special place for me. It's going to be a completely new thing for me but it's great for Manchester.
"And hopefully with home town support we will have bit of an advantage. The Americans are the strongest swimming nation in the world, so it's going to be tough but also it should be a lot of fun."
Phelps, 14 times an Olympic gold medallist, is the main attraction, but Britain's own double Olympic champion Becky Adlington and world champion Liam Tancock are also ones to watch.
"Following the success of the World Short Course last year, it's great that the British public will have another opportunity to watch a world class swimming event in Manchester next month," said Adlington.
She and Jo Jackson will find themselves in the unusual position of being on the same team as Italian rival Federica Pellegrini.
The E-Stars will also include 1500m freestyle world champion Alessia Filippi - who kept Adlington out of the medals in the 800m free- style this summer - former world champ Filippo Magnini and Daniela Samulski, triple at this year's world championships in Rome.
Notable absentees, though, are Paul Biedermann, who took Phelps' world title in Italy, and Britta Steffen, double sprint freestyle world over two lengths at the Foro Italico.
However, the presence of Pellegrini - one of the world's best swimmers - will add some extra spice.
Both Adlington and Jackson finished ahead of Pellegrini in the 400metres freestyle at last year's Olympics as the pair collected gold and bronze medals.
Jackson then lowered the Italian's world record over eight lengths in Sheffield in March before Pellegrini wrested it back shortly before the world championships.
The 21-year-old then became the first woman to swim 400m under four minutes as she led in Jackson and Adlington in Rome and also lowered her own world record in the 200m freestyle
"It's been an outstanding year for British Swimming with a best-ever medal haul at the World Championships in Rome.
"To be able to watch the cream from Britain, Italy and Germany race the best of the United States, including the likes of Michael Phelps, is an amazing opportunity," added Kelly.
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