The Demons will run through a banner made up of negative tweets sent to the players throughout their careers.
The banner will be torn apart by the players, in a symbolic show of tearing the abuse apart.
The match day will also be dedicated to raising funds for Reach, an organisation that promotes mental health and wellbeing in young people.
Founded by the Demons' late great Jim Stynes, Reach has partnered with the club.
"We're taking a stand in partnership with Melbourne Football Club... because this a problem that needs to be shared to be solved," Reach said in a statement.
Demons co-captain Nathan Jones has urged fans to get behind the campaign.
"The message they’re promoting is around social media and bullying -- and addressing that and bringing it to light," Jones said.
The campaign coincides with a difficult time for the AFL, with a number of social media bullying incidents in recent weeks.
AFLW star Tayla Harris was left feeling "sexually abused" after a photo of her kicking a ball was trolled with vulgar comments. The sporting world took a stand and the image has become an iconic photo of this AFLW season.
The phenomenal photo of Tayla Harris. Photo: AFL.
A week later, West Coast Eagles player Liam Ryan was targeted by racial slurs in comments on social media.
The Eagles responded with a video of their own, denouncing racism and bullying, while the Richmond member responsible for the comments was found and suspended for two years.
Melbourne will play Essendon at the MCG this Friday night at 7.50 pm.