Each team consisted of 9 forwards, 6 defensemen, and 2 goaltenders. The starting rosters were voted upon on the KHL.ru website. Both team captains were entitled to opt in 2 alternate captains of their choosing. The secondary lines and goaltenders were voted upon by the media and announced December 26, 2008, with the remaining players and reserves announced by January 8.
The format for the game was "Team Yashin" (Russia) vs. "Team Jágr" (World). The teams were named after players who are highly recognized in the sport and synonymous with their respective countries. Both players also captained their teams for the event. The format was voted on by the fans, with the alternative being the standard interconference matchup. This is reminiscent of the format introduced for the 48th NHL All-Star Game and will be used as a device to promote the game outside of Russia, as well as to promote the diversity of the league itself.