Wales head coach Warren Gatland has described the autumn series as "an important milestone" on the road towards World Cup 2011 in New Zealand.
Wales have already won the RBS 6 Nations title - and clinched a Grand Slam in the process - under Gatland's direction.
The next major challenge is a two-Test tour of South Africa in June, when Wales face the Springboks in Bloemfontein and Pretoria.
Looking ahead to November, Gatland said: "I am delighted that in one great month of rugby we now have the prospect of testing ourselves against all the best of the southern hemisphere teams.
"South Africa, New Zealand and Australia are all World Cup winners, so it will be an important milestone in our progression towards the 2011 World Cup.
"I have always said we must test ourselves against the best, and I am delighted we have been able to secure this series.
"The squad has made significant progress this year and the Invesco Perpetual autumn games will now provide a perfect opportunity to test how far forward we are in our development.
"We will have played the current world champions three times this year by the end of November, and that is just the sort of benchmark rugby we require in order to keep getting better."
The Australia game falls outside the International Rugby Board autumn window in terms of clubs or regions guaranteeing player release for Test matches.
And Welsh Rugby Union chief executive Roger Lewis added: "The confirmation of the Australia fixture has made all the hard work we have put in to secure this series worthwhile.
"I am particularly grateful to all four of our regions in Wales for agreeing to release their international players outside the normal International Rugby Board window for the final game in the series against Australia.
"The strong relationship we are building with our four regions bodes well for the future of the game in Wales."
Wales' autumn series: November 8, South Africa (1430); November 14, Canada (1930); November 22, New Zealand (1715); November 29, Australia (kick-off tbc).
Meanwhile, Gatland has added Llanelli Scarlets back row forward Dafydd Jones and Ospreys centre Andrew Bishop to his pre-South Africa tour training camp, bound for Whites of Wexford in Ireland next week.