The Arabian horses will be sponsored by the Emirates Equestrian Federation.
The event is designed to attract further international attention to Kentucky and the horse industry during the World Equestrian Games (WEG).
The games will draw competitors from 60 countries.
Keeneland head Nick Nicholson said the race will be sponsored for $US50,000 by Abu Dhabi's Emirates Equestrian Foundation.
"This is truly a win-win for everyone involved," Nicholson said.
"At a time when much of the world is focusing its eyes on Central Kentucky, this event will further expose people to thoroughbred racing and the wonderful culture and history surrounding Arabian horses."
The race will be run on October 9, the second race on the second day of Keeneland's autumn race meeting.
The Arabian horses will be sourced from within the US. It will be for four-year-olds and up and will be raced over 1.25 miles.
The Saturday race date coincides with the closing ceremonies for the world games.