The debate will be streamed live on the Fox Business Network on April 29, the network announced Monday.
In a statement, Fox News Channel said it is inviting Trump, Ted Cruz, Ben Carson, Chris Christie and Mike Huckabee to the debate.
The network added that they will debate in the first prime-time debate of the 2016 presidential race on April 28.
The two candidates are expected to discuss their respective policies on immigration, border security, trade, and the economy.
They are also expected to tackle a range of other issues.
The first presidential debate will take place on Sept. 26, 2016.
The other candidates, including Bernie Sanders and Martin O’Malley, are expected at least once.
Fox News host Megyn Kelly will moderate the event.
The debate is expected to air live on Fox News and on-demand at 8 p.m.
In the meantime, Trump, who is seeking the Republican nomination for president, said he will be debating former Secretary of State Hillary Clinton, who won the 2016 Democratic nomination.
The candidates will debate on April 30.
A third debate is scheduled for March 6, and both candidates are set to appear on the March 2 edition of Fox News Sunday.