The game - at Wembley on April 18 - will be used by the government as the first football test event as part of the phased return of fans to stadiums.
The tickets, however, will restricted to local residents who live in the borough of Brent. Health service workers may also be invited to the match.
Clubs cautiously began to welcome back fans towards the end of last year before the infection rate spiked alarmingly across the country, prompting a dramatic U-turn and shift in government policy.
Now, though, with lockdown restrictions being eased, steps are being taken to bring crowds back into sporting arenas.
The FA Cup semi-final between Leicester and Southampton is set to be one of 14 pilot events to be announced by the government, which could also include the Carabao Cup final between Tottenham and Man City and the FA Cup final.
Culture Secretary Oliver Dowden, speaking recently, said: "These test events will be crucial in finding ways to get fans and audiences back in safely without social distancing.
"We will be guided by the science and medical experts, but will work flat out to make that happen.
"We want to get the people back to enjoying what they love and ensure some of our most important growth industries get back on their feet."
The FA Cup semi-final between Leicester and Southampton will be played in front of 4,000 spectators.