The venue will also host the the Gillette Tri-Nations Series final later this month.
Headingley was not considered because its reduced capacity of 21,225 is considerably less than the 40,000 which can be accommodated at Elland Road.
"We feel Elland Road will provide the perfect venue," said Rugby Football League chief Richard Lewis.
Elland Road will be the fourth different venue used since the inter-hemisphere clash was re-introduced five years ago.
St Helens have played at Wigan's JJB Stadium and Bolton's Reebok Stadium while Bradford's two matches were held at Huddersfield's McAlpine Stadium.