Penn State will face Florida in the Outback Bowl on New Year's Day in Tampa, Fla.
"This team has worked hard all season and has been a great group to work with," coach Joe Paterno said in a statement. "I'm happy for the squad that their efforts will be rewarded with an opportunity to go to the Outback Bowl, where we have had some wonderful experiences, and be involved in a good, tough game. It will be fun to go back to the Tampa Bay area."
Penn State and Florida, both 7-5, have met three times. Both will be making their fourth trip to the Outback - Penn State last played there against Tennessee in the 2007 game and Florida played in the 2006 game against Iowa.
The game begins at 1 p.m. in Raymond James Stadium, and will be broadcast by ABC.
"We are excited to hear that we are going to the Outback Bowl and play in another New Year's Day game," said Gators coach Urban Meyer. "We are proud of our history of playing in January Bowl games. Not everyone gets to enjoy that experience. We've been fortunate around here to be in a bowl game for 20 consecutive years and I've told our players and staff to not take that for granted.
"We look forward to facing Penn State and one of the true legends in the game in coach Joe Paterno. I have a tremendous amount of respect for coach Paterno and I will be honored to have the opportunity to coach in the same game as him."
The Outback Bowl passed over South Carolina, Mississippi State and Iowa to select teams which those teams beat during the regular season, setting up a New Year's Day matchup of disappointing teams that began the season ranked.
South Carolina will play Florida State in the Chick-Fil-A Bowl, Mississippi State drew Michigan in the Gator Bowl, and Iowa will face Missouri in the Insight Bowl.
Florida beat Penn State, 17-7, in the 1962 Gator Bowl and defeated the Nittany Lions, 21-6, in the Citrus Bowl on Jan. 1, 1998.