The FIGC requested the match be cancelled as the sides could meet at the quarter-final stage of the 2014 FIFA World Cup in Brazil.
Spain and Italy met twice in quick succession at UEFA Euro 2012, playing out a 1-1 draw in their Group C opener, before Vicente Del Bosque's side recorded a crushing 4-0 win in the final three weeks later.
Italy also fell to a penalty shootout defeat to their European rivals in the FIFA Confederations Cup semi-finals.
Despite the Italians' protestations, the countries will lock horns again at Atletico Madrid's Estadio Vicente Calderon Stadium on March 5.
Spain are unbeaten in 10 games at the venue and the home support are likely to be firmly behind Diego Costa, who is expected to make his bow for his adopted nation in the tie.
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.