de S. Paulo newspaper said on Friday that the CBF reached a deal with marketing company Pitch International to play the matches in Australia next June.
Australian media first reported earlier this month that officials from all three countries were in talks to stage the fixtures.
Match venues have yet to be confirmed though the 100,000-seat Melbourne Cricket Ground is expected to host the clash between Brazil and Argentina, Folha de S. Paulo said.
Brazil and Argentina share one of international football's most famous rivalries, having won seven World Cups between them.
The teams last met in a World Cup qualifier in November, which Brazil won 3-0 in Belo Horizonte.
By Sportswriter Yue Dongxing
BEIJING Nike Air Force 1 Basse Scontate , March 7 (Xinhua) -- China vows to shake off the tag as a soccer underachiever with an overall reform plan recently endorsed by the Chinese government and a new league season kicking off on Saturday.
There have been signs of recovery in the game. China's top clubs, Guangzhou Evergrande, Beijing Guoan, Shandong Luneng and Guangzhou Fuli, all opened with victory in the AFC Champions League last month.
Luneng and Fuli lost their second games but Guangzhou and Beijing both won to top their respective group.
Evergrande Nike Air Force 1 Donne Scontate , the former winners of the tournament, showed courage and strength on Wednesday by beating defending champions Western Sydney Wanderers 3-2 in the Champions League's longest stoppage time that lasted 17 minutes, giving Fabio Cannavaro a promising start after his predecessor Marcello Lippi resigned a week ago.
In addition to positive performances by clubs, the Chinese men's team showed their teeth on big stage as they won three straight group games at the Asian Cup, for the first time in their 11 appearances in the continent's premier event Nike Air Force 1 Uomo Scontate , before going down 2-0 to hosts and eventual champions Australia in the quarter-finals.