Corey Price, Alesha O'Connor and Rhodri Miller, all 17, and Margaret Challis, 66, died in a two-car collision on the A470 in the Brecon Beacons in March.
Cardiff City Football Club is hosting the match on Sunday, with teams made up of members of the community.
Corey was part of the club's academy for eight years from the age of nine.
Entry to the match at Cardiff City Stadium is free but there will be bucket collections on the day.
The money will be used to pay for a Corey Price memorial bench at Ysgol Gyfun Bro Morgannwg, in Barry, Vale of Glamorgan, where he was a pupil.
A second bench is also planned at the Cardiff City Academy training ground and the club hopes the match will become an annual event.
Corey and his two friends, all from Barry, were travelling together when the collision happened near Storey Arms, Brecon on 6 March.
Mrs Challis, 66, from Merthyr Tydfil, was a passenger in the second car involved.
Seven teenage drivers were arrested on suspicion of dangerous driving after the crash have been bailed.
A football match in memory of four people who died in a car crash in Powys will be held in Cardiff.