O'Reilly is the conservative host of "The O'Reilly Factor," while Stewart is the liberal star of "The Daily Show."
Their debate, billed as "The Rumble in the Air-Conditioned Auditorium," is to take place Oct. 6 in front of a live audience, TVGuide.com reported. The program will stream online for $4.95 and half the profits from the debate will benefit charities.
Notable deaths of 2014 [PHOTOS]
'True Detective' adds Kelly Reilly