The International Tennis Federation made the announcement on Tuesday.
The Czechs used the same arena to beat Serbia 4-1 in the quarterfinals, but that was on clay. The Czechs are expected to use a different, faster surface to counter the Spaniards, who haven't lost on clay for 12 years.
The 100th final is from Nov. 16-18.
The 02 Arena seats 13,000, and will also host the Fed Cup final between the Czech Republic and Serbia on Nov. 3-4. It's the first stadium to host both finals in the same year.
Spain will be chasing its fourth Davis Cup title in five years, including a 5-0 sweep of the Czechs at home in 2009.
The Czechs won their only Davis Cup title as Czechoslovakia in 1980.