The contest will be played Jan. 27 in Atlanta.
Paddock's Senators led the Eastern Conference with a 25-10-4 record and Babcock's Red Wings topped the Western Conference at 29-8-3 through Tuesday's games.
New Jersey's Brent Sutter and Montreal's Guy Carbonneau are considered the top candidates for the position of assistant coach on the eastern team, and Ron Wilson of San Jose and Dave Tippett head that category in the west.
Starting lineups are to be announced Tuesday.
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