Foligno, the hometown favourite, will have Patrick Kane of the Blackhawks and Drew Doughty of the Kings as his alternate captains.
Toews, the two-time Stanley Cup-winning captain in Chicago, will have former Blue Jackets star Rick Nash of the Rangers and Ryan Getzlaf of the Ducks as alternates.
Foligno and Toews will each select 18 of the remaining 36 players as part of a televised draft Friday, Jan. 23.
Team Foligno will be coached by Darryl Sutter's Kings staff, while Team Toews will be coached by Peter Laviolette and his Predators staff.
Foligno follows in the footsteps of Eric Staal and Daniel Alfredsson as captains representing the host city.