Lippi could set world record at Emirates
The two teams, who contested the 1970 and 1994 World Cups, have played each other 12 times, winning five games each and scoring 19 goals apiece.
"This is not an exhibition, it´s a real match," Lippi told reporters on Monday. "We have 65,000 spectators. It´s a match which interests everyone.
"From a technical point of view Brazil are the strongest team in the world."
Brazil coach Dunga said both teams would treat the match as a competitive fixture.
"It's a different atmosphere but still (the match) is important," he said. "We want to win this friendly...although everything changes when you play for the points: the preparation, the attitude.
"Friendly games can be more tricky than qualifiers.
Dunga said he had no choice but to accept taking the field without striker Amauri. Juventus refused to release Amauri under FIFA rules after Dunga had given him a late callup when deprived of Luis Fabiano through injury.