Table-toppers South Africa are set to face perennial rivals Australia in a solitary, winner-takes-all Test from 11-15 June at the home of cricket.

The total prize pool for the WTC Final stands at $5.76 million, more than double that of the previous two editions. The champions will walk away with $3.6 million, while the runners-up will earn $2.16 million for their efforts.

"We're really pleased to have made the World Test Championship Final, which is a good opportunity for us to win an ICC title," said Proteas captain Temba Bavuma.

"Everyone understands the importance of Test cricket and the World Test Championship lends context to this vital format of the game. Lord's is a fitting venue for this mega fixture and all of us will be out there trying to give our best against Australia.

"The anticipation is increasing with less than one month to go, and I am sure fans around the world would be following the fortunes of both teams come 11 June."

Meanwhile, Australian captain Pat Cummins pointed out the long road to the WTC Final.

"We are enormously proud to have the opportunity to defend the World Test Championship, especially at Lord's," said the 32-year-old.

"It's a testament to all those involved across the past two years who have worked incredibly hard to reach the final, which is a great honour for all of us.

"We very much look forward to getting together again in England in just a few weeks' time and the challenge South Africa will present at the home of cricket."

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