The concert is one of the biggest in the world - over 98 million people watched the show this year.
In a statement, the NFL said the pair would perform on 2 February in Miami's Hard Rock Stadium.
Their show will be the first to be produced by Roc Nation, an entertainment company founded by rapper and businessman Shawn "Jay Z" Carter.
Both artists have released chart-topping songs in English and Spanish since the 1990s.
They shared the latest announcement on social media.
Colombian singer Shakira is one of the world's best-selling Latin American music stars, and has one three Grammy Awards. She rocketed to international fame in 2006 with her single Hips Don't Lie.
Lopez, an actress and singer, is known for hits such as "Love Don't Cost a Thing" and stars in the movie Hustlers, which is tipped for an Oscar.
She said that in a statement that she "couldn't wait to show what us girls can do on the world's biggest stage".
Shakira, meanwhile, called the opportunity "a true American dream".
The concert comes as the NFL seeks to rebuild its image after a public backlash over the treatment of Colin Kaepernick, a quarterback for the San Francisco 49ers.
Mr Kaepernick started kneeling during pre-game renditions of the US national anthem, as a sign of protest against racial injustice.